WCM Investment Management LLC Sells 5,643,411 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

WCM Investment Management LLC decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 25.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,955,412 shares of the transportation company's stock after selling 5,643,411 shares during the period. Canadian Pacific Kansas City makes up about 3.0% of WCM Investment Management LLC's portfolio, making the stock its 9th biggest holding. WCM Investment Management LLC owned about 1.82% of Canadian Pacific Kansas City worth $1,177,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at $914,090,000. Causeway Capital Management LLC lifted its position in Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Invesco Ltd. boosted its holdings in Canadian Pacific Kansas City by 25.7% in the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after purchasing an additional 2,177,604 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Canadian Pacific Kansas City by 44.2% during 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 purchasing an additional 1,516,684 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Canadian Pacific Kansas City by 11.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after purchasing an additional 1,262,913 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $0.64 on Friday, reaching $81.11. 1,085,094 shares of the company were exchanged, compared to its average volume of 2,812,993. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. The business has a 50-day moving average price of $78.96 and a 200 day moving average price of $76.23. The company has a market cap of $74.74 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.22 and a beta of 1.07.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 EPS 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 company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business earned $0.93 EPS. Canadian Pacific Kansas City's quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a $0.1644 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. This represents a $0.66 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio is currently 22.30%.

Wall Street Analyst Weigh In

CP has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus decreased their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a report on Monday, April 14th. Susquehanna restated a "positive" rating and issued a $94.00 price objective (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Bank of America lifted their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Citigroup decreased their target price on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and an average price target of $90.95.

About Canadian Pacific Kansas City

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.