Alpine Woods Capital Investors LLC lowered its stake in shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,400 shares of the transportation company’s stock after selling 600 shares during the quarter. Canadian Pacific Railway comprises 0.9% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 16th largest holding. Alpine Woods Capital Investors LLC owned 0.07% of Canadian Pacific Railway worth $17,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CP. AT Bancorp acquired a new stake in Canadian Pacific Railway in the first quarter worth about $1,349,000. Forsta AP Fonden acquired a new stake in Canadian Pacific Railway in the first quarter worth about $8,265,000. Korea Investment CORP boosted its holdings in Canadian Pacific Railway by 12.3% in the first quarter. Korea Investment CORP now owns 60,263 shares of the transportation company’s stock worth $10,620,000 after acquiring an additional 6,608 shares in the last quarter. Timber Hill LLC boosted its holdings in Canadian Pacific Railway by 338.8% in the first quarter. Timber Hill LLC now owns 4,219 shares of the transportation company’s stock worth $745,000 after acquiring an additional 5,986 shares in the last quarter. Finally, Port Capital LLC boosted its holdings in Canadian Pacific Railway by 5.9% in the first quarter. Port Capital LLC now owns 94,835 shares of the transportation company’s stock worth $16,738,000 after acquiring an additional 5,305 shares in the last quarter. 68.92% of the stock is currently owned by institutional investors.
Canadian Pacific Railway opened at $184.02 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.58 and a quick ratio of 0.50. Canadian Pacific Railway has a 52 week low of $182.73 and a 52 week high of $186.21. The stock has a market cap of $26.58 billion, a P/E ratio of 20.96, a PEG ratio of 1.53 and a beta of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 30th. Investors of record on Friday, June 29th will be issued a dividend of $0.438 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, June 28th. Canadian Pacific Railway’s dividend payout ratio (DPR) is 19.93%.
Several brokerages have weighed in on CP. Cowen reissued a “buy” rating and issued a $208.00 price target on shares of Canadian Pacific Railway in a report on Thursday, April 19th. Zacks Investment Research raised Canadian Pacific Railway from a “sell” rating to a “hold” rating in a report on Thursday, April 5th. Credit Suisse Group raised their price target on Canadian Pacific Railway from $204.00 to $208.00 and gave the stock an “outperform” rating in a report on Thursday, April 19th. Goldman Sachs raised Canadian Pacific Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $176.72 to $213.00 in a report on Tuesday, February 13th. Finally, Morgan Stanley lowered their price target on Canadian Pacific Railway from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Friday, April 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $205.33.
About Canadian Pacific Railway
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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.
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