Jennison Associates LLC Reduces Stake in Canadian Pacific Kansas City Limited $CP

Jennison Associates LLC lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 15.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,386 shares of the transportation company’s stock after selling 5,919 shares during the period. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $2,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CP. North Capital Inc. purchased a new stake in Canadian Pacific Kansas City in the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its position in shares of Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC raised its position in shares of Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock worth $35,000 after acquiring an additional 164 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Down 0.8%

CP stock opened at $72.01 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $64.84 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. The business has a 50 day moving average of $75.49 and a 200 day moving average of $76.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.74%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business earned $0.99 EPS. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS 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 26th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.228 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.91 annualized dividend and a yield of 1.3%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.12%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research report on Thursday. Citigroup decreased their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Barclays set a $90.00 target price on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada decreased their target price on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $91.69.

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.