Crossmark Global Holdings Inc. cut its stake in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,042 shares of the transportation company’s stock after selling 2,023 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Canadian Pacific Railway were worth $2,679,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Veritas Asset Management LLP acquired a new stake in shares of Canadian Pacific Railway in the second quarter valued at $410,776,000. Egerton Capital UK LLP grew its position in shares of Canadian Pacific Railway by 14.1% during the 2nd quarter. Egerton Capital UK LLP now owns 3,876,127 shares of the transportation company’s stock worth $911,820,000 after buying an additional 480,354 shares during the period. Point72 Asset Management L.P. grew its position in shares of Canadian Pacific Railway by 776.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 350,544 shares of the transportation company’s stock worth $82,478,000 after buying an additional 310,544 shares during the period. JPMorgan Chase & Co. grew its position in shares of Canadian Pacific Railway by 24.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,274,841 shares of the transportation company’s stock worth $298,478,000 after buying an additional 252,451 shares during the period. Finally, National Pension Service acquired a new position in shares of Canadian Pacific Railway during the 2nd quarter worth about $62,977,000. 68.02% of the stock is owned by institutional investors.
NYSE:CP opened at $216.01 on Friday. The stock has a fifty day moving average price of $228.56 and a 200-day moving average price of $227.47. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.55 and a current ratio of 0.67. Canadian Pacific Railway Ltd has a fifty-two week low of $167.48 and a fifty-two week high of $247.52.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.634 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 26th. Canadian Pacific Railway’s dividend payout ratio is presently 22.41%.
Several equities research analysts have commented on CP shares. Cowen restated a “buy” rating and issued a $258.00 target price on shares of Canadian Pacific Railway in a research note on Tuesday, July 16th. Argus boosted their price target on Canadian Pacific Railway to $265.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank boosted their price target on Canadian Pacific Railway from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. ValuEngine lowered Canadian Pacific Railway from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Loop Capital lowered Canadian Pacific Railway from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Canadian Pacific Railway presently has an average rating of “Buy” and a consensus target price of $260.73.
Canadian Pacific Railway Company Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
Featured Story: Holder of Record
Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP).
Receive News & Ratings for Canadian Pacific Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway and related companies with MarketBeat.com's FREE daily email newsletter.