Andra AP fonden Sells 82,700 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Andra AP fonden cut its Canadian Pacific Kansas City stake by 94.4% in the second quarter, selling 82,700 shares and retaining 4,920 shares valued at approximately $426,000.
• Institutional ownership remains significant at 72.2%, while analyst sentiment is favorable: CP has a “Moderate Buy” consensus rating and an average price target of $108.60.
• Canadian Pacific Kansas City beat quarterly earnings expectations with $0.92 EPS and $2.93 billion in revenue, up 12.6% year over year. The company also declared a C$0.27 quarterly dividend, representing an annualized yield of about 1.2%.

Andra AP fonden lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 94.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,920 shares of the transportation company's stock after selling 82,700 shares during the quarter. Andra AP fonden's holdings in Canadian Pacific Kansas City were worth $426,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 1.3% in the 4th quarter. Invesco Ltd. now owns 23,431,949 shares of the transportation company's stock valued at $1,725,294,000 after purchasing an additional 303,464 shares in the last quarter. Norges Bank purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $978,558,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $802,983,000. Geode Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 8,821,358 shares of the transportation company's stock worth $661,339,000 after acquiring an additional 461,724 shares during the period. Finally, Cibc World Market Inc. grew its holdings in shares of Canadian Pacific Kansas City by 21.9% in the 4th quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company's stock worth $620,925,000 after acquiring an additional 1,517,323 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CP has been the subject of several research reports. Canadian Imperial Bank of Commerce lifted their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an "outperformer" rating in a report on Thursday, June 25th. Argus set a $105.00 price target on Canadian Pacific Kansas City in a research report on Tuesday, June 16th. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday. Finally, Weiss Ratings raised shares of Canadian Pacific Kansas City from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and a consensus target price of $108.60.

Canadian Pacific Kansas City Trading Down 1.1%

Canadian Pacific Kansas City stock opened at $87.34 on Friday. The stock has a market cap of $76.72 billion, a PE ratio of 28.08, a P/E/G ratio of 1.83 and a beta of 1.12. The stock has a 50-day moving average price of $91.32 and a 200 day moving average price of $87.33. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a dividend of C$0.27 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 25.08%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.

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