Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 13.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,816,483 shares of the transportation company’s stock after selling 1,178,859 shares during the period. Canadian Pacific Kansas City makes up approximately 1.9% of CIBC Asset Management Inc’s portfolio, making the stock its 13th biggest position. CIBC Asset Management Inc’s holdings in Canadian Pacific Kansas City were worth $567,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Zone Wealth Advisors LLC raised its stake in Canadian Pacific Kansas City by 4.2% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 54,043 shares of the transportation company’s stock worth $3,911,000 after acquiring an additional 2,187 shares during the period. Secured Retirement Advisors LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $873,000. Allworth Financial LP increased its stake in shares of Canadian Pacific Kansas City by 674.0% in the fourth quarter. Allworth Financial LP now owns 85,754 shares of the transportation company’s stock valued at $6,725,000 after purchasing an additional 74,674 shares during the period. Principal Securities Inc. increased its stake in shares of Canadian Pacific Kansas City by 8.5% in the fourth quarter. Principal Securities Inc. now owns 7,764 shares of the transportation company’s stock valued at $562,000 after purchasing an additional 610 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 1.0 %

Shares of NYSE:CP opened at $77.53 on Monday. The stock has a market capitalization of $72.38 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 2.02 and a beta of 0.97. Canadian Pacific Kansas City Limited has a 1-year low of $70.89 and a 1-year high of $91.58. 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 50 day moving average price of $75.74 and a 200 day moving average price of $78.60.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.4 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a dividend of $0.1318 per share. This represents a $0.53 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s payout ratio is 18.62%.

Analysts Set New Price Targets

Several equities research analysts have commented on CP shares. Loop Capital lowered shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Citigroup raised their price target on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price target on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, 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 note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.45.

About Canadian Pacific Kansas City

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.