Lord Abbett & CO. LLC Cuts Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Lord Abbett & CO. LLC reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 57.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,477 shares of the transportation company’s stock after selling 43,373 shares during the period. Lord Abbett & CO. LLC’s holdings in Canadian Pacific Kansas City were worth $2,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. S&CO Inc. increased its stake in Canadian Pacific Kansas City by 183.3% in the 3rd quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock valued at $1,454,000 after purchasing an additional 11,000 shares in the last quarter. Swiss National Bank increased its position in shares of Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after buying an additional 23,000 shares in the last quarter. Barclays PLC raised its stake in shares of Canadian Pacific Kansas City by 2.8% during the 3rd quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock worth $250,602,000 after buying an additional 81,111 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth about $11,810,000. Finally, Toronto Dominion Bank grew its stake in Canadian Pacific Kansas City by 20.4% in the 3rd quarter. Toronto Dominion Bank now owns 2,083,106 shares of the transportation company’s stock valued at $178,189,000 after acquiring an additional 352,534 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $74.14 on Tuesday. The company has a market cap of $69.20 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.26 and a beta of 0.96. The firm’s 50 day moving average is $77.34 and its two-hundred day moving average is $79.89. Canadian Pacific Kansas City Limited has a fifty-two week low of $72.29 and a fifty-two week high of $91.58. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts expect that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is presently 20.00%.

Analysts Set New Price Targets

CP has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Stephens lowered their target price on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Sanford C. Bernstein dropped their price target on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Evercore ISI upped their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, Citigroup dropped 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 report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.88.

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.