Prudential Financial Inc. Sells 27,894 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Prudential Financial Inc. cut its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 90.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,981 shares of the transportation company's stock after selling 27,894 shares during the quarter. Prudential Financial Inc.'s holdings in Canadian Pacific Kansas City were worth $216,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Canadian Pacific Kansas City by 281.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company's stock worth $252,912,000 after buying an additional 2,532,519 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $74,168,000. Fisher Funds Management LTD purchased a new position in Canadian Pacific Kansas City in the 4th quarter valued at about $44,008,000. Franklin Resources Inc. lifted its position in Canadian Pacific Kansas City by 9.7% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its position in Canadian Pacific Kansas City by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company's stock valued at $2,662,978,000 after buying an additional 491,966 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CP. StockNews.com downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Wednesday, December 25th. Wells Fargo & Company lowered their target price on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Barclays cut their price target on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Stephens increased their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $93.75.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down $0.68 on Wednesday, reaching $72.99. The stock had a trading volume of 242,363 shares, compared to its average volume of 2,696,687. The company has a market cap of $67.90 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. 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 business's 50 day moving average is $74.44 and its two-hundred day moving average is $76.09. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $88.31.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share 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, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 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 0.72%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City's dividend payout ratio is currently 17.93%.

Canadian Pacific Kansas City Company 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.