FMR LLC reduced its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,192,497 shares of the transportation company's stock after selling 1,589,557 shares during the period. FMR LLC owned approximately 2.81% of Canadian Pacific Kansas City worth $2,240,147,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in CP. Brown Brothers Harriman & Co. lifted its holdings in Canadian Pacific Kansas City by 63.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,895 shares of the transportation company's stock valued at $248,000 after buying an additional 1,120 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Canadian Pacific Kansas City during the 3rd quarter valued at about $530,000. Fisher Asset Management LLC lifted its holdings in Canadian Pacific Kansas City by 10.3% during the 3rd quarter. Fisher Asset Management LLC now owns 1,353,769 shares of the transportation company's stock valued at $115,801,000 after buying an additional 126,602 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Canadian Pacific Kansas City by 20.6% during the 3rd quarter. Larson Financial Group LLC now owns 2,518 shares of the transportation company's stock valued at $215,000 after buying an additional 430 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Canadian Pacific Kansas City by 33.0% during the 3rd quarter. Cerity Partners LLC now owns 81,567 shares of the transportation company's stock valued at $6,977,000 after buying an additional 20,220 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CP has been the subject of several recent research reports. Stephens reduced their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Evercore ISI lifted their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 25th. Bank of America cut their price objective on shares of 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. Barclays lifted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus dropped their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.68.
Check Out Our Latest Analysis on Canadian Pacific Kansas City
Canadian Pacific Kansas City Price Performance
NYSE:CP traded down $2.68 during trading hours on Tuesday, reaching $74.38. 5,685,800 shares of the company were exchanged, compared to its average volume of 2,254,330. 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's 50-day moving average is $80.14 and its 200-day moving average is $80.41. The firm has a market cap of $69.42 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. Canadian Pacific Kansas City Limited has a twelve month low of $69.27 and a twelve month high of $91.58.
Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its 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 return on equity of 8.78% and a net margin of 24.50%. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.59 billion. During the same period in the previous year, the company earned $0.69 EPS. Canadian Pacific Kansas City's quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.75%. Canadian Pacific Kansas City's dividend payout ratio is presently 19.64%.
Canadian Pacific Kansas City Profile
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Free Report)
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.
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