Fisher Funds Management LTD Sells 77,613 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Fisher Funds Management reduced its stake in Canadian Pacific Kansas City by 21.4% in the first quarter, selling 77,613 shares and leaving it with 285,288 shares valued at about $22.4 million.
• The company recently reported quarterly earnings of $0.76 per share on revenue of $2.66 billion, both slightly below analyst expectations, while revenue fell 2.5% year over year.
• Canadian Pacific Kansas City also raised its quarterly dividend to $0.268 per share, and analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $103.40.

Fisher Funds Management LTD cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 21.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 285,288 shares of the transportation company's stock after selling 77,613 shares during the quarter. Fisher Funds Management LTD's holdings in Canadian Pacific Kansas City were worth $22,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $978,558,000. Janus Henderson Group PLC increased its holdings in shares of Canadian Pacific Kansas City by 586.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company's stock valued at $452,781,000 after purchasing an additional 5,251,755 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 18.3% in the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock valued at $1,722,841,000 after purchasing an additional 3,585,030 shares during the last quarter. FIL Ltd raised its position in shares of Canadian Pacific Kansas City by 20.2% in the fourth quarter. FIL Ltd now owns 16,666,777 shares of the transportation company's stock valued at $1,227,045,000 after purchasing an additional 2,804,686 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Canadian Pacific Kansas City by 206.0% in the fourth quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company's stock valued at $208,403,000 after purchasing an additional 1,905,302 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Up 0.0%

Shares of NYSE:CP opened at $86.06 on Monday. The business's 50 day simple moving average is $86.26 and its 200 day simple moving average is $80.79. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $91.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The company has a market capitalization of $76.17 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.84 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. Canadian Pacific Kansas City's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a $0.268 dividend. The ex-dividend date is Friday, June 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CP. Barclays set a $99.00 target price on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Sanford C. Bernstein upped their price target on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a "market perform" rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets cut shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, April 17th. Scotiabank downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.40.

Canadian Pacific Kansas City Profile

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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