Wellington Management Group LLP Has $8.08 Million Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Wellington Management reduced its Canadian Pacific Kansas City stake by 15.3% in the second quarter, selling 16,816 shares and retaining 93,214 shares valued at approximately $8.08 million. Institutional investors and hedge funds collectively own 72.2% of the company.
• Canadian Pacific Kansas City reported quarterly revenue of $2.93 billion and earnings of $0.92 per share, exceeding analyst estimates, while revenue rose 12.6% year over year.
• The company announced a quarterly dividend of $0.268 per share, equivalent to a 1.2% yield, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $108.60.

Wellington Management Group LLP reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,214 shares of the transportation company's stock after selling 16,816 shares during the period. Wellington Management Group LLP's holdings in Canadian Pacific Kansas City were worth $8,079,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Canadian Pacific Kansas City by 3.8% in the second quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company's stock valued at $304,000 after purchasing an additional 130 shares in the last quarter. Foster Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 3.3% during the 2nd quarter. Foster Group Inc. now owns 4,279 shares of the transportation company's stock valued at $371,000 after buying an additional 137 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of Canadian Pacific Kansas City by 1.2% in the 1st quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company's stock valued at $950,000 after buying an additional 142 shares in the last quarter. Altshuler Shaham Ltd increased its holdings in Canadian Pacific Kansas City by 1.2% in the first quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company's stock worth $926,000 after buying an additional 144 shares during the last quarter. Finally, Essex Financial Services Inc. raised its position in Canadian Pacific Kansas City by 3.2% during the first quarter. Essex Financial Services Inc. now owns 4,785 shares of the transportation company's stock valued at $376,000 after acquiring an additional 149 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $91.13 on Wednesday. The firm has a market capitalization of $80.05 billion, a PE ratio of 29.30, a PEG ratio of 1.91 and a beta of 1.12. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm's fifty day simple moving average is $91.58 and its 200 day simple moving average is $87.12.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The business's revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.72 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be paid a dividend of $0.268 per share. The ex-dividend date is Friday, September 25th. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio is presently 24.76%.

Analyst Upgrades and Downgrades

Several analysts have commented on CP shares. Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Argus set a $105.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Finally, Citizens Jmp assumed coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $108.60.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP.

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.