Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,372,475 shares of the transportation company’s stock after selling 195,737 shares during the quarter. Canadian Pacific Kansas City makes up 0.9% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 13th biggest holding. The Manufacturers Life Insurance Company’s holdings in Canadian Pacific Kansas City were worth $973,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CP. Bank of Montreal Can grew its stake in shares of Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after purchasing an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after acquiring an additional 723,188 shares during the last quarter. Fiera Capital Corp raised its position in shares of Canadian Pacific Kansas City by 1.9% during the 3rd quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock worth $497,918,000 after acquiring an additional 107,183 shares in the last quarter. Cantillon Capital Management LLC boosted its holdings in Canadian Pacific Kansas City by 9.1% in the third quarter. Cantillon Capital Management LLC now owns 3,705,152 shares of the transportation company’s stock valued at $316,939,000 after purchasing an additional 310,588 shares in the last quarter. Finally, Swiss National Bank increased its stake in 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 purchasing an additional 23,000 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $77.02 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City Limited has a one year low of $69.27 and a one year high of $91.58. The company has a market cap of $71.89 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. The business has a fifty day moving average of $80.14 and a two-hundred day moving average of $80.41.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 EPS 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 company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.14 dividend. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 19.64%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CP shares. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price objective for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Bank of America reduced their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus cut their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Evercore ISI upped their target price 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, Stephens cut their price target 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. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.68.

About Canadian Pacific Kansas City

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.