Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.0% in the second quarter, Holdings Channel reports. The fund owned 17,753,159 shares of the transportation company’s stock after selling 1,127,634 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian Pacific Kansas City were worth $1,397,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JARISLOWSKY FRASER Ltd lifted its holdings in shares of Canadian Pacific Kansas City by 63.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 89,644 shares of the transportation company’s stock worth $7,127,000 after purchasing an additional 34,856 shares during the period. Meritage Group LP purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $207,850,000. The Manufacturers Life Insurance Company increased its stake in shares of Canadian Pacific Kansas City by 4.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock worth $948,585,000 after acquiring an additional 507,177 shares during the period. Choate Investment Advisors raised its holdings in Canadian Pacific Kansas City by 24.2% during the first quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after purchasing an additional 14,037 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Canadian Pacific Kansas City by 1.9% in the fourth quarter. Sei Investments Co. now owns 667,246 shares of the transportation company’s stock valued at $52,752,000 after purchasing an additional 12,323 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CP has been the subject of a number of analyst reports. Sanford C. Bernstein increased their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Susquehanna restated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Barclays lowered their price target on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Finally, Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.36.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $86.32 on Monday. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The company has a market capitalization of $80.54 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.45 and a beta of 0.96. The stock has a fifty day moving average of $81.63 and a two-hundred day moving average of $82.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.31%.

Canadian Pacific Kansas City 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.