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

The Manufacturers Life Insurance Company reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,372,475 shares of the transportation company's stock after selling 195,737 shares during the quarter. Canadian Pacific Kansas City comprises approximately 0.9% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 13th largest position. The Manufacturers Life Insurance Company owned about 1.22% of Canadian Pacific Kansas City worth $973,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City in the 1st quarter worth approximately $32,000. SVB Wealth LLC boosted its stake in Canadian Pacific Kansas City by 11.7% during the first quarter. SVB Wealth LLC now owns 4,941 shares of the transportation company's stock worth $436,000 after buying an additional 518 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Canadian Pacific Kansas City by 19.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,076 shares of the transportation company's stock valued at $1,594,000 after buying an additional 2,976 shares in the last quarter. Redwood Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth $639,000. Finally, SkyView Investment Advisors LLC raised its holdings in shares of Canadian Pacific Kansas City by 13.8% during the 1st quarter. SkyView Investment Advisors LLC now owns 65,670 shares of the transportation company's stock worth $5,790,000 after acquiring an additional 7,968 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CP. Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and cut their price target for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Sanford C. Bernstein reduced their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a research report on Wednesday, October 9th. Stephens lowered their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, Bank of America reduced their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and an average price target of $93.68.

Canadian Pacific Kansas City Stock Down 3.5 %

Shares of NYSE CP traded down $2.68 during mid-day trading on Tuesday, hitting $74.38. The company had a trading volume of 5,765,403 shares, compared to its average volume of 2,259,235. The company has a market capitalization of $69.42 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. The business's 50-day simple moving average is $79.89 and its 200 day simple moving average is $80.35. Canadian Pacific Kansas City Limited has a 1-year low of $69.27 and a 1-year 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.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted 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). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business earned $0.69 EPS. Canadian Pacific Kansas City's revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's payout ratio is 19.64%.

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.