Massachusetts Financial Services Co. MA Sells 860,269 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Massachusetts Financial Services Co. MA trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,568,549 shares of the transportation company’s stock after selling 860,269 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.67% of Canadian Pacific Kansas City worth $1,126,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CP. Norges Bank bought a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $914,090,000. Allspring Global Investments Holdings LLC lifted its position in Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after buying an additional 2,532,519 shares during the period. National Bank of Canada FI boosted its holdings in shares of Canadian Pacific Kansas City by 84.4% during 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 buying an additional 1,348,474 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Canadian Pacific Kansas City by 27.2% in the 4th quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company’s stock worth $404,849,000 after buying an additional 1,179,108 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Canadian Pacific Kansas City by 260.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,457,682 shares of the transportation company’s stock worth $105,492,000 after buying an additional 1,053,570 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 1.3 %

NYSE:CP opened at $71.11 on Wednesday. The company has a market cap of $66.40 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The company has a 50 day simple moving average of $76.23 and a two-hundred day simple moving average of $77.20. Canadian Pacific Kansas City Limited has a 12 month low of $68.00 and a 12 month high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping 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%. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share 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. Stockholders 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 dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CP shares. Susquehanna dropped their price objective on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “positive” rating on the stock in a research note on Thursday, March 27th. Barclays dropped their price target on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada raised their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup raised their price target on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

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.