CIBC Asset Management Inc Sells 410,422 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

CIBC Asset Management Inc cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,995,342 shares of the transportation company’s stock after selling 410,422 shares during the quarter. Canadian Pacific Kansas City comprises 2.5% of CIBC Asset Management Inc’s portfolio, making the stock its 7th biggest position. CIBC Asset Management Inc’s holdings in Canadian Pacific Kansas City were worth $772,486,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mirova US LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter worth approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after buying an additional 1,678,784 shares in the last quarter. Wulff Hansen & CO. boosted its position in Canadian Pacific Kansas City by 8,261.4% in the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock valued at $74,282,000 after buying an additional 932,216 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Canadian Pacific Kansas City by 86.5% during the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after acquiring an additional 735,816 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after acquiring an additional 723,188 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.2 %

Shares of CP stock opened at $75.87 on Friday. The stock’s 50 day simple moving average is $81.77 and its 200 day simple moving average is $80.70. Canadian Pacific Kansas City Limited has a twelve month low of $69.27 and a twelve month high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $70.81 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.25 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data 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 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 analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.74%. Canadian Pacific Kansas City’s dividend payout ratio is presently 19.64%.

Wall Street Analysts Forecast Growth

CP has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Evercore ISI increased their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Citigroup decreased their target price on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Barclays raised their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.68.

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.