The Manufacturers Life Insurance Company trimmed its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 22.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,103,143 shares of the transportation company's stock after selling 2,367,013 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.91% of Canadian Pacific Kansas City worth $637,080,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Prosperity Bancshares Inc bought a new stake in Canadian Pacific Kansas City in the 4th quarter worth approximately $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $29,000. McMillan Office Inc. purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $31,000. Acadian Asset Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $35,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Canadian Pacific Kansas City in the third quarter worth $36,000. Institutional investors own 72.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CP shares. Evercore set a $91.00 target price on Canadian Pacific Kansas City and gave the company an "outperform" rating in a report on Thursday, June 25th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, June 25th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Sunday. Citigroup increased their price objective on shares of Canadian Pacific Kansas City from $97.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $104.91.
Check Out Our Latest Stock Report on Canadian Pacific Kansas City
Canadian Pacific Kansas City Price Performance
Shares of Canadian Pacific Kansas City stock opened at $91.45 on Tuesday. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $93.95. The stock's fifty day moving average is $88.96 and its 200 day moving average is $83.59. The stock has a market cap of $80.93 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67.
Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results 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). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter last year, the firm posted $1.06 earnings per share. Canadian Pacific Kansas City's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current year.
Canadian Pacific Kansas City Company Profile
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Free Report)
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.
Further Reading
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