Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Veritas Asset Management LLP

Veritas Asset Management LLP lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,208,139 shares of the transportation company's stock after selling 86,934 shares during the quarter. Canadian Pacific Kansas City accounts for 7.7% of Veritas Asset Management LLP's holdings, making the stock its 3rd biggest position. Veritas Asset Management LLP owned approximately 1.31% of Canadian Pacific Kansas City worth $1,044,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CP. Mirova US LLC acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Canadian Pacific Kansas City by 398.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company's stock valued at $165,419,000 after buying an additional 1,678,784 shares during the period. Cantillon Capital Management LLC grew its position in Canadian Pacific Kansas City by 49.1% during the first quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company's stock valued at $314,563,000 after buying an additional 1,174,200 shares during the period. Wulff Hansen & CO. grew its position in Canadian Pacific Kansas City by 8,261.4% during the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company's stock valued at $74,282,000 after buying an additional 932,216 shares during the period. Finally, AGF Management Ltd. grew its position in Canadian Pacific Kansas City by 86.5% during the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company's stock valued at $125,094,000 after buying an additional 735,816 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, July 10th. Bank of America dropped their price target 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. Jefferies Financial Group dropped their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Finally, Stephens dropped 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 report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus price target of $94.15.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP traded down $0.10 during midday trading on Friday, hitting $77.06. The company's stock had a trading volume of 2,733,452 shares, compared to its average volume of 2,167,342. The business's 50 day simple moving average is $82.60 and its 200 day simple moving average is $81.03. 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 company has a market cap of $71.92 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 12-month low of $69.08 and a 12-month high of $91.58.

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

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared 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 is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 19.64%.

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.