Jaffetilchin Investment Partners LLC reduced its stake in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 37.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,952 shares of the transportation company’s stock after selling 1,148 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Canadian Pacific Railway were worth $357,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CP. Captrust Financial Advisors bought a new stake in shares of Canadian Pacific Railway in the second quarter worth about $130,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Canadian Pacific Railway by 23.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the transportation company’s stock worth $141,000 after purchasing an additional 167 shares during the last quarter. Boston Private Wealth LLC bought a new stake in shares of Canadian Pacific Railway in the third quarter worth about $203,000. FineMark National Bank & Trust bought a new stake in shares of Canadian Pacific Railway in the third quarter worth about $208,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Canadian Pacific Railway in the second quarter worth about $215,000. 67.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on CP. Goldman Sachs Group began coverage on Canadian Pacific Railway in a research note on Monday, November 13th. They issued a “neutral” rating and a $178.00 target price on the stock. Deutsche Bank began coverage on Canadian Pacific Railway in a research note on Wednesday, November 1st. They issued a “buy” rating and a $209.00 target price on the stock. Argus raised their target price on Canadian Pacific Railway from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley raised their target price on Canadian Pacific Railway from $214.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $238.00 target price on shares of Canadian Pacific Railway in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Canadian Pacific Railway presently has a consensus rating of “Buy” and an average price target of $191.19.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.76 annualized dividend and a yield of 0.96%. Canadian Pacific Railway’s payout ratio is 17.94%.
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Canadian Pacific Railway Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.
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