Skye Global Management LP Sells 622,000 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Skye Global Management LP lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 32.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,286,000 shares of the transportation company’s stock after selling 622,000 shares during the period. Canadian Pacific Kansas City accounts for approximately 2.7% of Skye Global Management LP’s portfolio, making the stock its 6th biggest holding. Skye Global Management LP owned approximately 0.14% of Canadian Pacific Kansas City worth $110,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CP. B. Riley Wealth Advisors Inc. grew its holdings in Canadian Pacific Kansas City by 19.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,076 shares of the transportation company’s stock valued at $1,594,000 after buying an additional 2,976 shares in the last quarter. LRI Investments LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. Atria Investments Inc grew its stake in shares of Canadian Pacific Kansas City by 13.9% in the 1st quarter. Atria Investments Inc now owns 40,175 shares of the transportation company’s stock valued at $3,542,000 after buying an additional 4,896 shares during the period. Cetera Investment Advisers grew its holdings in shares of Canadian Pacific Kansas City by 272.0% during the 1st quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after purchasing an additional 40,380 shares during the period. Finally, Cetera Advisors LLC increased its position in shares of Canadian Pacific Kansas City by 44.7% during the 1st quarter. Cetera Advisors LLC now owns 30,715 shares of the transportation company’s stock worth $2,711,000 after purchasing an additional 9,490 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $75.35 on Friday. The company has a fifty day moving average of $79.45 and a two-hundred day moving average of $80.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. Canadian Pacific Kansas City Limited has a 1 year low of $69.66 and a 1 year high of $91.58. The company has a market capitalization of $70.33 billion, a PE ratio of 26.91, a P/E/G ratio of 2.23 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is currently 19.64%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Sanford C. Bernstein decreased their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Evercore ISI increased their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Stifel Nicolaus lowered their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Finally, Stephens decreased their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $94.88.

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.