Canadian Pacific Kansas City Limited $CP Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,057 shares of the transportation company’s stock after selling 35,634 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Canadian Pacific Kansas City were worth $28,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CP. Prosperity Bancshares Inc purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth about $29,000. McMillan Office Inc. acquired a new position in Canadian Pacific Kansas City in the 4th quarter valued at about $31,000. Wealth Watch Advisors INC acquired a new position in Canadian Pacific Kansas City in the 3rd quarter valued at about $36,000. Finally, Acadian Asset Management LLC purchased a new stake in Canadian Pacific Kansas City during the 1st quarter valued at approximately $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.9%

CP opened at $85.90 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The business has a 50 day simple moving average of $87.07 and a 200-day simple moving average of $81.49. The stock has a market capitalization of $76.02 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.85 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $91.52.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a dividend of $0.268 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is presently 24.07%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Scotiabank cut Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, June 24th. Susquehanna reiterated a “positive” rating and issued a $104.00 price objective on shares of Canadian Pacific Kansas City in a research report on Friday, June 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.30.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.