Coronation Fund Managers Ltd. Sells 330,712 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Coronation Fund Managers Ltd. lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 63.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,465 shares of the transportation company's stock after selling 330,712 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Canadian Pacific Kansas City were worth $13,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of Canadian Pacific Kansas City by 84.4% during the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company's stock worth $251,778,000 after acquiring an additional 1,348,474 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in 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 worth $245,403,000 after purchasing an additional 769,202 shares during the period. Point72 Asset Management L.P. acquired a new position in Canadian Pacific Kansas City during the third quarter valued at approximately $63,179,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Canadian Pacific Kansas City by 39.2% during 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 purchasing an additional 565,783 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Canadian Pacific Kansas City by 9.7% in the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company's stock worth $501,219,000 after buying an additional 537,418 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CP. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a "peer perform" rating to an "outperform" rating and set a $86.00 target price on the stock in a research note on Wednesday, January 8th. Citigroup raised their price target on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Susquehanna decreased their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Finally, StockNews.com downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Wednesday, December 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of "Moderate Buy" and an average target price of $95.45.

Canadian Pacific Kansas City Price Performance

NYSE:CP traded up $0.38 during mid-day trading on Thursday, hitting $78.24. The company's stock had a trading volume of 1,629,160 shares, compared to its average volume of 3,271,367. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $75.66 and a 200-day moving average of $78.70. The company has a market capitalization of $73.04 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.02 and a beta of 0.97. Canadian Pacific Kansas City Limited has a fifty-two week low of $70.89 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, beating 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 forecast that Canadian Pacific Kansas City Limited will post 3.4 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.1318 dividend. This represents a $0.53 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City's payout ratio is 18.62%.

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.