Cresset Asset Management LLC Cuts Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Cresset Asset Management LLC lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 56.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,089 shares of the transportation company's stock after selling 15,756 shares during the quarter. Cresset Asset Management LLC's holdings in Canadian Pacific Kansas City were worth $877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Canadian Pacific Kansas City in the 4th quarter worth about $914,090,000. Causeway Capital Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after buying an additional 6,687,770 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Canadian Pacific Kansas City by 281.0% during 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 buying an additional 2,532,519 shares during the period. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 25.7% during the 4th quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after buying an additional 2,177,604 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Canadian Pacific Kansas City by 27.2% during the 4th quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company's stock worth $404,849,000 after purchasing an additional 1,179,108 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CP. Evercore ISI dropped their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada reduced their price target on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Stephens boosted their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.71.

Canadian Pacific Kansas City Stock Up 4.3%

CP opened at $76.52 on Tuesday. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The business has a 50-day moving average of $72.94 and a 200-day moving average of $75.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market capitalization of $71.20 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business earned $0.93 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a $0.1644 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 21.28%.

Canadian Pacific Kansas City 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.

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