State Street Corp Reduces Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

State Street Corp lessened its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 684,270 shares of the transportation company's stock after selling 37,773 shares during the quarter. State Street Corp owned approximately 0.07% of Canadian Pacific Kansas City worth $58,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirova US LLC purchased a new position in Canadian Pacific Kansas City in the 2nd quarter valued at $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted 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 worth $165,419,000 after acquiring an additional 1,678,784 shares during the last quarter. Wulff Hansen & CO. grew its stake in Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company's stock valued at $74,282,000 after acquiring an additional 932,216 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Canadian Pacific Kansas City in the 3rd quarter valued at about $63,179,000. Finally, AGF Management Ltd. raised its holdings in Canadian Pacific Kansas City by 86.5% in the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company's stock valued at $125,094,000 after acquiring an additional 735,816 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

CP has been the subject of a number of analyst reports. Citigroup dropped their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Barclays upped their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Evercore ISI lifted their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, September 25th. Susquehanna raised shares of Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and dropped their price objective for the company from $94.00 to $92.00 in a report on Thursday, October 24th. Finally, Sanford C. Bernstein reduced their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.88.

Canadian Pacific Kansas City Stock Down 2.6 %

Canadian Pacific Kansas City stock traded down $1.91 during mid-day trading on Thursday, reaching $71.10. 3,339,995 shares of the company's stock were exchanged, compared to its average volume of 2,307,286. The company has a market cap of $66.36 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.26 and a beta of 0.96. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a twelve month low of $71.02 and a twelve month high of $91.58. The company has a fifty day moving average of $77.05 and a 200-day moving average of $79.80.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued 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). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter last year, the company earned $0.69 EPS. Canadian Pacific Kansas City's revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's payout ratio is 20.00%.

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.