Canadian Pacific Kansas City Limited $CP Stock Holdings Lessened by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp trimmed its stake in Canadian Pacific Kansas City by 0.9%, selling 156,365 shares to hold 16,342,402 shares (about 1.81% of CPKC) valued at roughly $1.217 billion, with CP representing ~1.5% of Mackenzie's portfolio and its 12th-largest holding.
• Several large investors boosted or initiated positions in CPKC, notably JPMorgan Chase (+87.2% to 16,000,064 shares), Fisher Asset Management (+281%), Franklin Resources (+31.3%), Invesco (+15.1%), and Norges Bank (new ~ $1.01B stake); institutional ownership stands at 72.20%.
• Analysts have a consensus rating of "Moderate Buy" with a $92.00 price target (10 Buys, 4 Holds); CPKC has a $75.35 billion market cap, a P/E of 25.98, reported quarterly EPS of $0.95 (vs. $0.99 expected), and declared a quarterly dividend of $0.228 per share (annualized yield ~1.1%).

Mackenzie Financial Corp reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,342,402 shares of the transportation company's stock after selling 156,365 shares during the quarter. Canadian Pacific Kansas City makes up approximately 1.5% of Mackenzie Financial Corp's portfolio, making the stock its 12th largest position. Mackenzie Financial Corp owned about 1.81% of Canadian Pacific Kansas City worth $1,216,875,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CP. Norges Bank acquired a new stake in Canadian Pacific Kansas City in the second quarter valued at approximately $1,012,065,000. JPMorgan Chase & Co. increased its stake in shares of Canadian Pacific Kansas City by 87.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company's stock worth $1,268,325,000 after purchasing an additional 7,454,810 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 281.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,431,316 shares of the transportation company's stock valued at $430,540,000 after purchasing an additional 4,005,942 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Canadian Pacific Kansas City by 31.3% during the 2nd quarter. Franklin Resources Inc. now owns 11,611,625 shares of the transportation company's stock valued at $921,881,000 after purchasing an additional 2,765,424 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 15.1% in the 2nd quarter. Invesco Ltd. now owns 19,543,455 shares of the transportation company's stock valued at $1,549,210,000 after purchasing an additional 2,559,104 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CP shares. Barclays set a $93.00 price objective on shares of Canadian Pacific Kansas City in a report on Thursday, January 29th. Morgan Stanley raised Canadian Pacific Kansas City from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 8th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Tuesday, March 3rd. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Wednesday, January 21st. Finally, Evercore cut their price objective on Canadian Pacific Kansas City from $87.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, January 29th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $83.91 on Wednesday. The company has a market capitalization of $75.35 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.80 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 $89.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.41. The company's fifty day moving average price is $78.54 and its 200 day moving average price is $75.67.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.04). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. The firm's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Friday, March 27th will be given a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Pacific Kansas City's payout ratio is currently 20.43%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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