CIBC Asset Management Inc Sells 1,178,859 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

CIBC Asset Management Inc reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,816,483 shares of the transportation company's stock after selling 1,178,859 shares during the period. Canadian Pacific Kansas City makes up 1.9% of CIBC Asset Management Inc's portfolio, making the stock its 13th biggest position. CIBC Asset Management Inc owned approximately 0.84% of Canadian Pacific Kansas City worth $567,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CP. Allspring Global Investments Holdings LLC lifted its holdings in shares of Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company's stock valued at $252,912,000 after purchasing an additional 2,532,519 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Canadian Pacific Kansas City by 84.4% during the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company's stock valued at $251,778,000 after purchasing an additional 1,348,474 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian Pacific Kansas City by 36.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company's stock valued at $245,403,000 after purchasing an additional 769,202 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Canadian Pacific Kansas City during the third quarter valued at $63,179,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Canadian Pacific Kansas City by 39.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company's stock valued at $172,132,000 after acquiring an additional 565,783 shares during the period. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price 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. Susquehanna lowered their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Citigroup increased their target price on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Wednesday, December 25th. Finally, Bank of America lowered their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.45.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP traded down $0.31 during trading on Thursday, hitting $78.01. 1,544,381 shares of the company's stock were exchanged, compared to its average volume of 3,084,893. 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 Limited has a 52-week low of $70.89 and a 52-week high of $91.58. The business's 50-day simple moving average is $75.90 and its 200 day simple moving average is $78.58. The company has a market cap of $72.83 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.04 and a beta of 0.97.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.4 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City's dividend payout ratio is presently 18.62%.

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.