Fmr LLC Lowers Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Fmr LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,192,497 shares of the transportation company’s stock after selling 1,589,557 shares during the quarter. Fmr LLC owned 2.81% of Canadian Pacific Kansas City worth $2,240,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust lifted its position in Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares in the last quarter. Tower View Wealth Management LLC raised its stake in shares of Canadian Pacific Kansas City by 0.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock valued at $4,410,000 after acquiring an additional 130 shares during the period. Bradley Foster & Sargent Inc. CT raised its stake in shares of Canadian Pacific Kansas City by 3.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock valued at $355,000 after acquiring an additional 131 shares during the period. Trust Co. of Vermont boosted its position in Canadian Pacific Kansas City by 4.7% during the 3rd quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock worth $260,000 after purchasing an additional 135 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Canadian Pacific Kansas City by 12.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 141 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Up 0.4 %

Shares of Canadian Pacific Kansas City stock opened at $77.02 on Tuesday. 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 50-day moving average price of $80.14 and a 200 day moving average price of $80.41. Canadian Pacific Kansas City Limited has a fifty-two week low of $69.27 and a fifty-two week high of $91.58. The firm has a market cap of $71.89 billion, a P/E ratio of 27.51, a P/E/G ratio of 2.27 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm posted $0.69 earnings per share. Canadian Pacific Kansas City’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Analyst Ratings Changes

Several research analysts have commented on CP shares. Stephens cut their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Evercore ISI boosted their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their price objective on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America decreased their target price on shares of 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average target price of $93.68.

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.