Alberta Investment Management Corp Sells 143,849 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Alberta Investment Management Corp has reduced its stake in Canadian Pacific Kansas City by 6.7%, selling approximately 143,849 shares, bringing its total to about 1,989,522 shares.
• Canadian Pacific Kansas City announced an increase in its quarterly dividend to $0.1651 per share, reflecting a positive change from the previous dividend of $0.16.
• The stock of Canadian Pacific Kansas City is currently down 2.9%, with a market cap of $67.46 billion and analysts projecting a consensus earnings per share of 3.42 for the current year.

Alberta Investment Management Corp reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,989,522 shares of the transportation company's stock after selling 143,849 shares during the period. Canadian Pacific Kansas City accounts for 1.0% of Alberta Investment Management Corp's holdings, making the stock its 15th biggest holding. Alberta Investment Management Corp owned 0.21% of Canadian Pacific Kansas City worth $139,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CP. Causeway Capital Management LLC increased its stake in Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after purchasing an additional 6,687,770 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Canadian Pacific Kansas City by 25.7% during the fourth 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 last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Canadian Pacific Kansas City by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Canadian Pacific Kansas City by 11.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after acquiring an additional 1,262,913 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Canadian Pacific Kansas City by 27.2% during the fourth quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company's stock worth $404,849,000 after acquiring an additional 1,179,108 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Down 2.9%

CP opened at $73.49 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.43. The stock has a market cap of $67.46 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.12 and a beta of 1.07. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The company's 50-day moving average price is $79.88 and its two-hundred day moving average price is $76.93.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. The firm had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.56 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.68%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio is presently 22.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CP. The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Jefferies Financial Group decreased their target price on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their target price on shares of 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. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

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.

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