Addenda Capital Inc. Sells 29,064 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Addenda Capital Inc. decreased its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773,397 shares of the transportation company’s stock after selling 29,064 shares during the period. Canadian Pacific Kansas City accounts for approximately 3.0% of Addenda Capital Inc.’s holdings, making the stock its 7th largest position. Addenda Capital Inc. owned approximately 0.08% of Canadian Pacific Kansas City worth $60,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LRI Investments LLC bought a new stake in Canadian Pacific Kansas City in the first quarter valued at approximately $32,000. ORG Partners LLC bought a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $39,000. Tobam acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at $51,000. Rational Advisors LLC acquired a new stake in shares of Canadian Pacific Kansas City during the first quarter worth $52,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 0.6 %

Canadian Pacific Kansas City stock traded up $0.47 during trading hours on Wednesday, hitting $78.03. The stock had a trading volume of 1,341,920 shares, compared to its average volume of 2,149,403. The stock has a market cap of $72.81 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $79.74 and its 200-day simple moving average is $82.77. Canadian Pacific Kansas City Limited has a one year low of $68.92 and a one year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the company earned $0.62 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $0.1373 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.70%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Analyst Ratings Changes

CP has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price target on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Evercore reduced their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price objective on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.56.

Canadian Pacific Kansas City Profile

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.