Canadian Pacific Railway Limited (CP) Position Decreased by Jag Capital Management LLC

Jag Capital Management LLC reduced its stake in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 1.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,582 shares of the transportation company’s stock after selling 145 shares during the period. Jag Capital Management LLC’s holdings in Canadian Pacific Railway Limited were worth $1,219,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP acquired a new position in Canadian Pacific Railway Limited during the first quarter valued at about $2,091,000. Candriam Luxembourg S.C.A. boosted its position in Canadian Pacific Railway Limited by 21.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 3,701 shares of the transportation company’s stock valued at $542,000 after buying an additional 645 shares during the period. Reliance Trust Co. of Delaware raised its stake in shares of Canadian Pacific Railway Limited by 17.5% in the first quarter. Reliance Trust Co. of Delaware now owns 4,825 shares of the transportation company’s stock worth $709,000 after buying an additional 720 shares in the last quarter. Viking Fund Management LLC raised its stake in shares of Canadian Pacific Railway Limited by 5.3% in the first quarter. Viking Fund Management LLC now owns 100,000 shares of the transportation company’s stock worth $14,692,000 after buying an additional 5,000 shares in the last quarter. Finally, Skylands Capital LLC raised its stake in shares of Canadian Pacific Railway Limited by 124.3% in the first quarter. Skylands Capital LLC now owns 24,000 shares of the transportation company’s stock worth $3,526,000 after buying an additional 13,300 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Canadian Pacific Railway Limited (NYSE:CP) traded up 0.61% during midday trading on Friday, reaching $154.00. The company’s stock had a trading volume of 579,608 shares. Canadian Pacific Railway Limited has a 12-month low of $139.29 and a 12-month high of $167.52. The stock has a 50-day moving average of $159.58 and a 200 day moving average of $153.83. The firm has a market capitalization of $22.50 billion, a P/E ratio of 17.34 and a beta of 1.09.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.4411 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s payout ratio is currently 19.88%.

Canadian Pacific Railway Limited announced that its board has approved a share repurchase program on Wednesday, May 10th that authorizes the company to buyback 4,380,000 shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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CP has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, July 25th. Loop Capital decreased their target price on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Pacific Railway Limited in a research note on Thursday, July 20th. Cowen and Company reiterated a “buy” rating and set a $172.00 target price on shares of Canadian Pacific Railway Limited in a research note on Friday, July 28th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $178.00 target price (up from $171.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. Canadian Pacific Railway Limited currently has an average rating of “Buy” and a consensus price target of $187.37.

About Canadian Pacific Railway Limited

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.

Institutional Ownership by Quarter for Canadian Pacific Railway Limited (NYSE:CP)

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