Canadian Pacific Kansas City Limited $CP Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly reduced its stake in Canadian Pacific Kansas City Limited by 92% in Q1, selling over 2 million shares, which left them with 179,696 shares valued at approximately $12.6 million.
• Canadian Pacific Kansas City recently announced a dividend increase to $0.1651 per share, up from $0.16, with payments set for October 27th to shareholders on record as of September 26th.
• The company's latest earnings report revealed a missed EPS estimate of $0.81 compared to the expected $0.82, along with a revenue of $2.72 billion, falling short of analysts' expectations of $2.76 billion.

Wellington Management Group LLP decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 92.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,696 shares of the transportation company's stock after selling 2,074,660 shares during the quarter. Wellington Management Group LLP's holdings in Canadian Pacific Kansas City were worth $12,609,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CP. Invesco Ltd. grew its position 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 acquiring an additional 6,337,312 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Canadian Pacific Kansas City by 70.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock worth $652,936,000 after acquiring an additional 3,842,866 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth approximately $126,928,000. Allspring Global Investments Holdings LLC grew its position in shares of Canadian Pacific Kansas City by 44.2% in the 1st 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. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Canadian Pacific Kansas City by 11.3% in the 4th 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. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CP shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Barclays raised their price target on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Bank of America raised their price target on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Finally, Stephens raised their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock traded down $0.31 during mid-day trading on Tuesday, hitting $75.88. 278,812 shares of the company's stock traded hands, compared to its average volume of 3,208,495. The firm has a 50 day moving average price of $77.23 and a 200 day moving average price of $76.51. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The company has a market cap of $69.33 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72.

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 for the quarter, missing the consensus estimate of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm 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 dividend of $0.1651 per share. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

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.