Tanager Wealth Management LLP Reduces Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Tanager Wealth Management LLP cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 44.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,271 shares of the transportation company’s stock after selling 2,599 shares during the quarter. Tanager Wealth Management LLP’s holdings in Canadian Pacific Kansas City were worth $237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CP. National Bank of Canada FI increased its holdings in shares of Canadian Pacific Kansas City by 84.4% in the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock valued at $251,778,000 after acquiring an additional 1,348,474 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Canadian Pacific Kansas City by 36.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock valued at $245,403,000 after acquiring an additional 769,202 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $63,179,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Canadian Pacific Kansas City by 39.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock valued at $172,132,000 after acquiring an additional 565,783 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Canadian Pacific Kansas City by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after acquiring an additional 537,418 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Up 3.1 %

Shares of NYSE CP opened at $77.10 on Wednesday. Canadian Pacific Kansas City Limited has a 12 month low of $70.89 and a 12 month high of $91.58. The company has a market cap of $71.98 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 2.06 and a beta of 0.97. 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 business has a fifty day simple moving average of $75.36 and a 200-day simple moving average of $78.89.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.39 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s payout ratio is 18.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CP shares. Bank of America lowered their price objective on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus lowered their price objective on Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Stephens upped their price objective on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna reduced their price target on Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price target on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.45.

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.