Independence Bank of Kentucky Purchases 390 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Independence Bank of Kentucky lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 70.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 940 shares of the transportation company’s stock after buying an additional 390 shares during the period. Independence Bank of Kentucky’s holdings in Canadian Pacific Kansas City were worth $83,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sands Capital Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth $31,000. Anchor Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $40,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $45,000. Partnership Wealth Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $52,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $70,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Down 0.1 %

CP stock traded down $0.10 during mid-day trading on Friday, reaching $78.73. The company’s stock had a trading volume of 2,330,986 shares, compared to its average volume of 2,237,094. The company has a market cap of $73.45 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.97. The business’s 50 day moving average price is $79.74 and its 200 day moving average price is $82.10. 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 issued its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. On average, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.14 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.95%.

Analysts Set New Price Targets

Several research firms recently weighed in on CP. Raymond James raised their price objective on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Evercore reduced their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday. Finally, Bank of America reduced their price objective on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.32.

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.