Beutel Goodman & Co Ltd. Sells 1,335,702 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Beutel Goodman cut its Canadian Pacific Kansas City stake by 37.6%, selling 1,335,702 shares in the third quarter; it still held 2,220,662 shares, worth about $189.6 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $112.58, though some firms recently downgraded or lowered their ratings.
• Quarterly earnings came in at $0.91 per share, below the $0.94 consensus, while revenue rose 15.2% year over year to $2.96 billion. The company also announced a quarterly dividend of C$0.27 per share.

Beutel Goodman & Co Ltd. trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 37.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,220,662 shares of the transportation company's stock after selling 1,335,702 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.26% of Canadian Pacific Kansas City worth $189,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Canadian Pacific Kansas City by 1.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,225,140 shares of the transportation company's stock valued at $441,368,000 after acquiring an additional 78,977 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Canadian Pacific Kansas City by 5.1% during the 3rd quarter. Brighton Jones LLC now owns 3,294 shares of the transportation company's stock valued at $280,000 after purchasing an additional 159 shares during the period. Ethic Inc. increased its position in shares of Canadian Pacific Kansas City by 21.1% during the 3rd quarter. Ethic Inc. now owns 18,185 shares of the transportation company's stock valued at $1,548,000 after purchasing an additional 3,172 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $745,000. Finally, CenterBook Partners LP purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $366,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CP. Susquehanna increased their price objective on shares of Canadian Pacific Kansas City from $98.00 to $105.00 and gave the stock a "positive" rating in a research note on Tuesday, November 3rd. Barclays set a $104.00 target price on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, October 29th. Zacks Research lowered shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. Citizens Jmp initiated coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Finally, Weiss Ratings downgraded shares of Canadian Pacific Kansas City from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.58.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $93.89 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.52. The stock has a 50-day simple moving average of $88.52 and a two-hundred day simple moving average of $86.54. The firm has a market capitalization of $81.72 billion, a PE ratio of 26.67, a P/E/G ratio of 1.99 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 52-week low of $68.83 and a 52-week high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, October 28th. The transportation company reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.94 by ($0.03). Canadian Pacific Kansas City had a net margin of 24.14% and a return on equity of 9.27%. The company had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.67 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Stockholders of record on Thursday, December 31st will be paid a C$0.27 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. Canadian Pacific Kansas City's dividend payout ratio is 24.68%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited NYSE: CP, known as CPKC, operates a transcontinental freight railway. Its network connects Canada, the United States and Mexico, providing rail transportation and related logistics services for businesses across North America.

CPKC carries a range of goods, including grain and other agricultural products, intermodal freight, automotive shipments, energy products, chemicals, forest products and industrial materials. Its services include rail freight transportation, intermodal shipping and logistics solutions.

The company was formed in April 2023 through the combination of Canadian Pacific Railway and Kansas City Southern.

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