Thornburg Investment Management Inc. Sells 192,157 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Thornburg Investment Management reduced its Canadian Pacific Kansas City stake by 8.4% in the fourth quarter, selling 192,157 shares and leaving it with 2,102,939 shares valued at about $154.8 million.
• Analyst sentiment remains mixed but constructive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $103.22, despite some recent target cuts and downgrades.
• CPKC reported softer quarterly results, posting earnings of $0.76 per share on revenue of $2.66 billion, both slightly below expectations, while also increasing its quarterly dividend to $0.268 per share.

Thornburg Investment Management Inc. cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,102,939 shares of the transportation company's stock after selling 192,157 shares during the period. Canadian Pacific Kansas City accounts for about 1.9% of Thornburg Investment Management Inc.'s investment portfolio, making the stock its 14th biggest position. Thornburg Investment Management Inc. owned approximately 0.23% of Canadian Pacific Kansas City worth $154,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sargent Investment Group LLC bought a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth approximately $368,000. Mariner LLC raised its stake in shares of Canadian Pacific Kansas City by 3.4% during the fourth quarter. Mariner LLC now owns 126,353 shares of the transportation company's stock worth $9,306,000 after buying an additional 4,124 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Canadian Pacific Kansas City by 4.3% during the fourth quarter. Focus Partners Wealth now owns 737,018 shares of the transportation company's stock worth $54,270,000 after buying an additional 30,297 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Canadian Pacific Kansas City by 166.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 431,965 shares of the transportation company's stock worth $31,806,000 after buying an additional 269,965 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Canadian Pacific Kansas City by 1.7% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 296,953 shares of the transportation company's stock worth $21,940,000 after buying an additional 4,980 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, April 30th. Scotiabank downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 9th. Sanford C. Bernstein boosted their price target on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a "market perform" rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, April 17th. Finally, Barclays set a $99.00 price target on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.22.

Canadian Pacific Kansas City Stock Down 0.1%

Canadian Pacific Kansas City stock opened at $89.99 on Monday. The stock has a market capitalization of $79.84 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $91.50. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $85.52 and a 200-day moving average of $80.26.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly 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). 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%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. On average, equities 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. Stockholders of record on Friday, June 26th will be issued a $0.268 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. Canadian Pacific Kansas City's dividend payout ratio is currently 20.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.