Coronation Fund Managers Ltd. Lowers Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Coronation Fund Managers Ltd. has reduced its stake in Canadian Pacific Kansas City by 75.1%, selling 144,611 shares and holding 48,009 shares worth approximately $3.8 million as of the latest SEC filing.
• Several other institutional investors, including Invesco Ltd. and Goldman Sachs, have significantly increased their holdings in the company, indicating strong institutional interest.
• Canadian Pacific Kansas City also recently announced a quarterly dividend increase to $0.1651 per share, reflecting a yield of 0.9% and a payout ratio of 20.56%.

Coronation Fund Managers Ltd. cut its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 75.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,009 shares of the transportation company's stock after selling 144,611 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Canadian Pacific Kansas City were worth $3,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CP. Invesco Ltd. grew its stake in 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. Goldman Sachs Group Inc. grew its stake in 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 buying an additional 3,842,866 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Canadian Pacific Kansas City in the 1st quarter worth approximately $126,928,000. Causeway Capital Management LLC grew its stake in 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. Finally, Allspring Global Investments Holdings LLC grew its stake in 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 buying an additional 1,516,684 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

CP has been the subject of a number of research reports. Susquehanna cut their price target on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a research note on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 8th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Barclays set a $90.00 price target on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Finally, Stephens increased their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.38.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $76.50 on Tuesday. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65. The business has a 50-day simple moving average of $75.48 and a two-hundred day simple moving average of $76.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market cap of $69.38 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the firm posted $1.05 EPS. Canadian Pacific Kansas City's quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a $0.1651 dividend. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio 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.

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