Canadian Pacific Kansas City Limited $CP Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Canadian Pacific Kansas City stake by 6.2%, selling 502,365 shares and retaining 7.6 million shares worth approximately $657.7 million. Institutional investors collectively own 72.2% of the company.
• Canadian Pacific Kansas City reported quarterly EPS of $0.92, beating estimates by $0.03, while revenue rose 12.6% year over year to $2.93 billion. The company declared a quarterly dividend of $0.268 per share, representing a 1.2% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $108.60, above the stock’s reported price of $88.93.

The Manufacturers Life Insurance Company lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,600,778 shares of the transportation company's stock after selling 502,365 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.87% of Canadian Pacific Kansas City worth $657,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiduciary Financial Advisors acquired a new position in Canadian Pacific Kansas City during the 2nd quarter valued at approximately $25,000. Prosperity Bancshares Inc purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at $29,000. McMillan Office Inc. acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $31,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 1.3%

Canadian Pacific Kansas City stock opened at $88.93 on Friday. The business's 50-day moving average price is $91.68 and its 200 day moving average price is $87.19. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The firm has a market cap of $78.11 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.Canadian Pacific Kansas City's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.268 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City's dividend payout ratio is presently 25.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CP. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 price objective (up from $139.00) on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Citigroup lifted their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Barclays set a $102.00 target price on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of 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. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.60.

Canadian Pacific Kansas City Profile

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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