Jennison Associates LLC Has $2.87 Million Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Jennison Associates LLC trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 41.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,600 shares of the transportation company's stock after selling 24,221 shares during the quarter. Jennison Associates LLC's holdings in Canadian Pacific Kansas City were worth $2,874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CP. Grove Bank & Trust grew its holdings in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company's stock worth $31,000 after purchasing an additional 130 shares in the last quarter. LRI Investments LLC acquired a new stake in Canadian Pacific Kansas City during the first quarter worth about $32,000. Addison Advisors LLC increased its holdings in Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company's stock valued at $34,000 after buying an additional 279 shares during the period. Chris Bulman Inc bought a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $35,000. Finally, Asset Dedication LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

CP has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Evercore ISI boosted their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, September 25th. Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a research note on Wednesday, October 9th. Bank of America lowered their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Finally, Stephens reduced their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and a consensus target price of $93.68.

Canadian Pacific Kansas City Trading Up 2.0 %

Shares of CP traded up $1.50 during mid-day trading on Friday, reaching $76.69. 6,784,521 shares of the company were exchanged, compared to its average volume of 3,284,612. The business has a 50 day simple moving average of $80.34 and a two-hundred day simple moving average of $80.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The stock has a market capitalization of $71.58 billion, a PE ratio of 27.39, a PEG ratio of 2.23 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52 week low of $69.27 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City's payout ratio is currently 20.00%.

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.