Norges Bank Makes New Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Norges Bank bought a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 12,636,325 shares of the transportation company’s stock, valued at approximately $914,090,000.

A number of other large investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter worth about $2,602,000. Oak Family Advisors LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $262,000. Barclays PLC grew its holdings in Canadian Pacific Kansas City by 2.8% during the third quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock valued at $250,602,000 after purchasing an additional 81,111 shares during the period. Toronto Dominion Bank increased its stake in Canadian Pacific Kansas City by 20.4% in the third quarter. Toronto Dominion Bank now owns 2,083,106 shares of the transportation company’s stock valued at $178,189,000 after purchasing an additional 352,534 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter worth $249,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

CP has been the subject of several research analyst reports. Barclays decreased their price target on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, January 8th. Loop Capital cut Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their target price on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Susquehanna dropped their target price on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “positive” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Canadian Pacific Kansas City Stock Down 2.3 %

Shares of CP stock opened at $71.59 on Friday. The firm’s fifty day moving average price is $76.56 and its two-hundred day moving average price is $77.64. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 1 year low of $70.89 and a 1 year high of $89.26. The firm has a market capitalization of $66.84 billion, a P/E ratio of 24.68, a PEG ratio of 2.00 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts predict 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 disclosed 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. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio is currently 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.