Mesirow Financial Investment Management Inc. Cuts Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Mesirow Financial Investment Management Inc. lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,271 shares of the transportation company’s stock after selling 1,058 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Canadian Pacific Kansas City were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth $32,000. Chris Bulman Inc purchased a new stake in Canadian Pacific Kansas City in the second quarter worth about $35,000. ORG Partners LLC purchased a new position in Canadian Pacific Kansas City during the second quarter valued at approximately $39,000. Tobam bought a new stake in Canadian Pacific Kansas City during the first quarter valued at about $51,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $61,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Trading Up 1.1 %

Shares of CP opened at $87.28 on Tuesday. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The firm has a market capitalization of $81.44 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.45 and a beta of 0.96. The firm has a 50-day moving average price of $81.78 and a 200 day moving average price of $82.50. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.63%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CP shares. Barclays decreased their price target on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price for the company. Stifel Nicolaus raised their target price on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Susquehanna reissued a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Finally, Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average target price of $96.36.

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.