Wellington Management Group LLP Has $8.08 Million Holdings in Canadian Pacific Kansas City Limited $CP

Wellington Management Group LLP cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,214 shares of the transportation company’s stock after selling 16,816 shares during the period. Wellington Management Group LLP’s holdings in Canadian Pacific Kansas City were worth $8,079,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth about $978,558,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at about $802,983,000. The Manufacturers Life Insurance Company acquired a new stake in Canadian Pacific Kansas City during the second quarter worth about $657,672,000. Legal & General Group Plc acquired a new stake in Canadian Pacific Kansas City during the second quarter worth about $604,797,000. Finally, Jupiter Topco LLC bought a new position in Canadian Pacific Kansas City during the second quarter valued at about $576,687,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Down 0.5%

Shares of NYSE:CP opened at $91.13 on Wednesday. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The company’s fifty day moving average is $91.58 and its 200-day moving average is $87.12. The company has a market capitalization of $80.05 billion, a PE ratio of 29.30, a P/E/G ratio of 1.91 and a beta of 1.12.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company posted $1.12 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.268 per share. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio is currently 24.76%.

Analyst Ratings Changes

Several research firms have commented on CP. Stephens raised Canadian Pacific Kansas City to a “hold” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Argus set a $105.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Citizens Jmp assumed coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Weiss Ratings upgraded shares of Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.