Peregrine Asset Advisers Inc. Decreases Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Peregrine Asset Advisers Inc. cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,126 shares of the transportation company’s stock after selling 459 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Canadian Pacific Kansas City were worth $326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its holdings in Canadian Pacific Kansas City by 20.3% during the 4th quarter. Apollon Wealth Management LLC now owns 16,196 shares of the transportation company’s stock worth $1,281,000 after buying an additional 2,735 shares during the last quarter. Lincoln National Corp lifted its holdings in Canadian Pacific Kansas City by 2.7% during the 4th quarter. Lincoln National Corp now owns 7,674 shares of the transportation company’s stock worth $607,000 after buying an additional 204 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Canadian Pacific Kansas City by 0.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 32,077 shares of the transportation company’s stock worth $2,529,000 after buying an additional 280 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Canadian Pacific Kansas City by 3.4% during the 4th quarter. Metis Global Partners LLC now owns 40,212 shares of the transportation company’s stock worth $3,182,000 after buying an additional 1,327 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Canadian Pacific Kansas City during the 4th quarter worth about $467,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP traded up $1.78 during trading on Monday, hitting $81.51. 1,866,561 shares of the stock were exchanged, compared to its average volume of 2,148,699. The company has a fifty day moving average price of $86.29 and a two-hundred day moving average price of $80.22. The company has a market cap of $76.02 billion, a PE ratio of 26.13, a P/E/G ratio of 2.26 and a beta of 0.96. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts forecast that Canadian Pacific Kansas City Limited will post 3.15 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.63%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI decreased their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 price target for the company. Susquehanna lowered their price objective on shares of Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, April 25th. Finally, TD Securities cut shares of Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $96.42.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.