Lord Abbett & CO. LLC Sells 43,373 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Lord Abbett & CO. LLC decreased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 57.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,477 shares of the transportation company's stock after selling 43,373 shares during the quarter. Lord Abbett & CO. LLC's holdings in Canadian Pacific Kansas City were worth $2,778,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in Canadian Pacific Kansas City by 1.5% in the 2nd quarter. Raymond James & Associates now owns 778,881 shares of the transportation company's stock worth $61,321,000 after purchasing an additional 11,416 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Canadian Pacific Kansas City by 1.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 162,185 shares of the transportation company's stock valued at $12,769,000 after buying an additional 2,075 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Canadian Pacific Kansas City by 7.6% during the second quarter. First Citizens Bank & Trust Co. now owns 3,102 shares of the transportation company's stock valued at $244,000 after acquiring an additional 218 shares in the last quarter. Fifth Third Bancorp raised its holdings in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. Fifth Third Bancorp now owns 50,041 shares of the transportation company's stock worth $3,940,000 after acquiring an additional 910 shares during the last quarter. Finally, Shelton Wealth Management LLC raised its holdings in Canadian Pacific Kansas City by 49.2% in the 2nd quarter. Shelton Wealth Management LLC now owns 11,490 shares of the transportation company's stock worth $905,000 after acquiring an additional 3,789 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $0.62 during mid-day trading on Tuesday, hitting $73.52. The company had a trading volume of 4,294,447 shares, compared to its average volume of 2,298,060. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The stock's 50 day moving average price is $77.34 and its 200-day moving average price is $79.89. Canadian Pacific Kansas City Limited has a 52-week low of $72.29 and a 52-week high of $91.58. The company has a market capitalization of $68.62 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CP. Susquehanna raised Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and reduced their target price 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 for the company in a research note on Wednesday, October 9th. 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 report on Friday, October 11th. Benchmark reissued a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Finally, Barclays upped their price objective on 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. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $94.88.

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.