Geode Capital Management LLC Purchases 1,179,108 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Geode Capital Management LLC boosted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,511,465 shares of the transportation company’s stock after purchasing an additional 1,179,108 shares during the period. Geode Capital Management LLC owned about 0.59% of Canadian Pacific Kansas City worth $404,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $914,090,000. Allspring Global Investments Holdings LLC grew its position in Canadian Pacific Kansas City by 281.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after acquiring an additional 2,532,519 shares during the last quarter. National Bank of Canada FI increased its stake in Canadian Pacific Kansas City by 84.4% in the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after purchasing an additional 1,348,474 shares during the period. Alliancebernstein L.P. lifted its position in shares of Canadian Pacific Kansas City by 260.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,457,682 shares of the transportation company’s stock worth $105,492,000 after purchasing an additional 1,053,570 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at $74,168,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CP. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a report on Wednesday, January 8th. Stephens lifted their price target on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Argus set a $90.00 target price on Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.68.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $70.26 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $68.00 and a 12-month high of $89.26. The firm’s fifty day simple moving average is $75.73 and its two-hundred day simple moving average is $77.00. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $65.60 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.00 and a beta of 1.01.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its 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%. 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 business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.1318 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

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.