Canadian Pacific Kansas City Limited $CP Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its holdings in Canadian Pacific Kansas City Limited by 2.7%, selling 17,917 shares and retaining 640,773 shares valued at approximately $50.67 million.
• Canadian Pacific Kansas City recently reported earnings of $0.81 per share, missing the analysts' estimates of $0.82, with quarterly revenue of $2.72 billion.
• The company announced a dividend increase to $0.1651 per share, representing a yield of 0.9%, to be paid to stockholders on October 27th.

Allianz Asset Management GmbH lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 640,773 shares of the transportation company's stock after selling 17,917 shares during the quarter. Allianz Asset Management GmbH owned about 0.07% of Canadian Pacific Kansas City worth $50,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Canadian Pacific Kansas City by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after acquiring an additional 364,515 shares during the period. TD Asset Management Inc raised its stake in shares of Canadian Pacific Kansas City by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company's stock worth $1,665,106,000 after buying an additional 136,970 shares in the last quarter. Causeway Capital Management LLC raised its stake in shares of Canadian Pacific Kansas City by 11.5% in the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock worth $1,207,605,000 after buying an additional 1,778,984 shares in the last quarter. Invesco Ltd. raised its stake in shares of Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after buying an additional 6,337,312 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Canadian Pacific Kansas City by 6.5% in the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after buying an additional 999,522 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Up 1.5%

Shares of Canadian Pacific Kansas City stock opened at $76.61 on Friday. The stock's fifty day moving average is $75.44 and its 200-day moving average is $76.65. The firm has a market capitalization of $69.47 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. 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 dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio is presently 20.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Susquehanna dropped their price objective on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research note on Thursday, September 25th. Finally, Stephens boosted their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.38.

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.

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