Manhattan West Asset Management LLC Sells 4,373 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Manhattan West Asset Management LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,725 shares of the transportation company's stock after selling 4,373 shares during the quarter. Manhattan West Asset Management LLC's holdings in Canadian Pacific Kansas City were worth $2,224,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $2,602,000. Oak Family Advisors LLC purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $262,000. Barclays PLC grew its position in shares of Canadian Pacific Kansas City by 2.8% in the third quarter. Barclays PLC now owns 2,929,642 shares of the transportation company's stock valued at $250,602,000 after purchasing an additional 81,111 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth approximately $249,000. Finally, Phraction Management LLC grew its position in Canadian Pacific Kansas City by 53.6% during the fourth quarter. Phraction Management LLC now owns 13,306 shares of the transportation company's stock valued at $963,000 after acquiring an additional 4,641 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP traded up $1.98 during mid-day trading on Thursday, reaching $74.89. The company had a trading volume of 1,029,847 shares, compared to its average volume of 2,701,167. The company's 50-day moving average is $74.36 and its 200-day moving average is $76.07. 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 $69.67 billion, a P/E ratio of 25.82, a P/E/G ratio of 2.00 and a beta of 1.01. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $88.31.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.1318 per share. This represents a $0.53 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 17.93%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CP. StockNews.com lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Wednesday, December 25th. Royal Bank of Canada raised their price target on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Citigroup decreased their target price on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wolfe Research raised shares of Canadian Pacific Kansas City from a "peer perform" rating to an "outperform" rating and set a $86.00 price objective for the company in a report on Wednesday, January 8th. Finally, Stephens boosted their price objective on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.75.

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.