Jennison Associates LLC Decreases Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Jennison Associates LLC lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 73.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,305 shares of the transportation company's stock after selling 108,928 shares during the quarter. Jennison Associates LLC's holdings in Canadian Pacific Kansas City were worth $2,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. acquired a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its position in Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted its stake in shares of Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after purchasing an additional 164 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in Canadian Pacific Kansas City during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CP. Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Citigroup increased their price target on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Finally, Barclays boosted their target price on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of $91.95.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $77.51 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The company's 50 day moving average is $80.63 and its two-hundred day moving average is $76.89. The stock has a market cap of $71.15 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.17 and a beta of 1.07.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company posted $0.93 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a $0.1644 dividend. This represents a $0.66 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's payout ratio is 22.30%.

Canadian Pacific Kansas City 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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