M&T Bank Corp Reduces Position in Canadian Pacific Kansas City Limited (NYSE:CP)

M&T Bank Corp reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 50.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,485 shares of the transportation company's stock after selling 102,525 shares during the quarter. M&T Bank Corp's holdings in Canadian Pacific Kansas City were worth $8,510,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company's stock worth $31,000 after purchasing an additional 130 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company's stock worth $34,000 after acquiring an additional 279 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth $34,000. Chris Bulman Inc acquired a new position in shares of Canadian Pacific Kansas City during the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC purchased a new stake in shares of Canadian Pacific Kansas City in the third quarter valued at about $38,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Down 1.9 %

NYSE CP traded down $1.43 on Thursday, hitting $74.67. 3,233,710 shares of the stock were exchanged, compared to its average volume of 2,282,337. Canadian Pacific Kansas City Limited has a fifty-two week low of $72.29 and a fifty-two week high of $91.58. The company has a 50-day moving average price of $77.78 and a 200-day moving average price of $79.95. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The company has a market cap of $69.69 billion, a PE ratio of 27.19, a PEG ratio of 2.24 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued 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 0.75%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analyst Weigh In

CP has been the topic of several recent analyst reports. Benchmark reiterated a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Evercore ISI upped their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an "outperform" rating in a report on Wednesday, September 25th. Stephens cut their target price on 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. Bank of America decreased their price target on Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup reduced their price objective on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus price target of $94.88.

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.