Norges Bank Takes Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Norges Bank acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,636,325 shares of the transportation company's stock, valued at approximately $914,090,000. Norges Bank owned 1.35% of Canadian Pacific Kansas City at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CP. Kestra Investment Management LLC bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at $33,000. FSA Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the third quarter worth $34,000. Stonebridge Financial Group LLC bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at $34,000. YANKCOM Partnership bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at $36,000. Finally, Millstone Evans Group LLC purchased a new position in Canadian Pacific Kansas City during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

CP has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target 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. Benchmark reaffirmed a "hold" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. StockNews.com lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Wednesday, December 25th. Susquehanna lowered 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 report on Thursday, March 27th. Finally, Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a "hold" rating for the company in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.95.

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Canadian Pacific Kansas City Trading Up 0.8 %

CP stock traded up $0.56 during midday trading on Tuesday, hitting $70.77. The company had a trading volume of 679,776 shares, compared to its average volume of 3,133,179. The stock has a market cap of $66.07 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.00 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52 week low of $68.00 and a 52 week high of $89.26. 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 stock's 50 day moving average price is $76.36 and its 200 day moving average price is $77.31.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.1318 per share. The ex-dividend date is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.75%. Canadian Pacific Kansas City's dividend payout ratio is currently 17.93%.

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.