Canoe Financial LP Sells 569,035 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Canoe Financial LP decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 99.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,979 shares of the transportation company’s stock after selling 569,035 shares during the quarter. Canoe Financial LP’s holdings in Canadian Pacific Kansas City were worth $433,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after acquiring an additional 1,678,784 shares during the period. National Bank of Canada FI lifted its holdings in shares of Canadian Pacific Kansas City by 84.4% in the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after acquiring an additional 1,348,474 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $63,179,000. 1832 Asset Management L.P. grew its holdings in shares of Canadian Pacific Kansas City by 5.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Canadian Pacific Kansas City by 39.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock worth $172,132,000 after purchasing an additional 565,783 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CP shares. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research note on Wednesday, January 8th. Citigroup lowered their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Stephens upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $81.00 to $88.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.63.

Canadian Pacific Kansas City Price Performance

CP stock opened at $74.80 on Friday. 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 firm has a market cap of $69.83 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.89 and a beta of 0.96. The company’s fifty day simple moving average is $74.75 and its 200 day simple moving average is $79.19. Canadian Pacific Kansas City Limited has a 12-month low of $70.89 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.02 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.75%. Canadian Pacific Kansas City’s payout ratio is 19.29%.

Canadian Pacific Kansas City Company Profile

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.