Pictet Asset Management Holding SA Sells 304,121 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Pictet Asset Management Holding SA lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 35.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 546,109 shares of the transportation company’s stock after selling 304,121 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Canadian Pacific Kansas City worth $39,521,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Canadian Pacific Kansas City in the 4th quarter worth approximately $914,090,000. Allspring Global Investments Holdings LLC raised its position in shares of Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after acquiring an additional 2,532,519 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Canadian Pacific Kansas City by 84.4% during the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock valued at $251,778,000 after acquiring an additional 1,348,474 shares during the period. Raymond James Financial Inc. bought a new position in Canadian Pacific Kansas City in the fourth quarter valued at about $74,168,000. Finally, M.D. Sass LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter worth about $61,076,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 3.1 %

Shares of NYSE:CP opened at $69.31 on Monday. The firm has a market cap of $64.72 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.00 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 12 month low of $69.25 and a 12 month high of $89.26. The company’s fifty day simple moving average is $76.45 and its 200 day simple moving average is $77.42. 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 (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) 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 forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1318 per share. The ex-dividend date is Friday, March 28th. This represents a $0.53 annualized dividend and a dividend yield of 0.76%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.93%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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. Citigroup raised their price objective 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. Susquehanna lowered their target price on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “positive” rating for the company in a report on Thursday. Argus set a $90.00 price target on Canadian Pacific Kansas City in a research report on Wednesday. Finally, Loop Capital cut Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

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.