Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 accounts for 2.5% of CIBC Asset Management Inc's investment portfolio, making the stock its 7th biggest holding. CIBC Asset Management Inc owned about 0.96% of Canadian Pacific Kansas City worth $772,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CP. Mirova US LLC acquired a new position in shares of Canadian Pacific Kansas City during the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Canadian Pacific Kansas City by 398.2% in the second 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 during the period. Wulff Hansen & CO. grew its holdings in shares of Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company's stock valued at $74,282,000 after acquiring an additional 932,216 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 86.5% during the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company's stock valued at $125,094,000 after purchasing an additional 735,816 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Canadian Pacific Kansas City by 5.5% during the 2nd 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. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down $1.62 during trading on Friday, reaching $74.25. 2,749,098 shares of the stock traded hands, compared to its average volume of 2,171,444. The business has a fifty day simple moving average of $81.62 and a two-hundred day simple moving average of $80.67. Canadian Pacific Kansas City Limited has a 52-week low of $69.27 and a 52-week high of $91.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market capitalization of $69.30 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 2.25 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.02). The company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. Sell-side analysts expect 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 declared 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 is Friday, December 27th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.75%. Canadian Pacific Kansas City's dividend payout ratio is currently 20.00%.

Analysts Set New Price Targets

CP has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Bank of America reduced their price target on 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. Benchmark reaffirmed a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. 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 report on Wednesday, September 25th. Finally, Susquehanna raised Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and dropped their price objective for the company from $94.00 to $92.00 in a report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and a consensus target price of $93.68.

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.