Canadian Pacific Kansas City Limited (NYSE:CP) Stock Position Lessened by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,254,356 shares of the transportation company’s stock after selling 26,925 shares during the quarter. Wellington Management Group LLP’s holdings in Canadian Pacific Kansas City were worth $163,144,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in Canadian Pacific Kansas City by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 62,551 shares of the transportation company’s stock worth $4,766,000 after purchasing an additional 4,123 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Canadian Pacific Kansas City by 873.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 841,273 shares of the transportation company’s stock valued at $60,856,000 after buying an additional 754,853 shares during the period. Okabena Investment Services Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 9.6% in the fourth quarter. Okabena Investment Services Inc. now owns 12,920 shares of the transportation company’s stock valued at $935,000 after buying an additional 1,132 shares during the period. Allianz SE bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at about $463,000. Finally, Ramirez Asset Management Inc. acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth about $2,083,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CP. Royal Bank of Canada raised their price objective on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Stephens raised their target price on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, January 30th. Susquehanna cut their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. Finally, Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Wednesday, January 8th. Two equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.68.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $72.60 on Thursday. The stock has a market cap of $67.79 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.00 and a beta of 0.98. 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 firm has a 50 day simple moving average of $76.11 and a 200 day simple moving average of $77.17. Canadian Pacific Kansas City Limited has a 52 week low of $68.00 and a 52 week high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate 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%. Research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company 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. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

Canadian Pacific Kansas City Company Profile

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.