Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,680,874 shares of the transportation company's stock after selling 4,539,498 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.00% of Canadian Pacific Kansas City worth $1,476,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in Canadian Pacific Kansas City by 0.3% in the third quarter. Commonwealth Equity Services LLC now owns 51,089 shares of the transportation company's stock valued at $3,802,000 after buying an additional 148 shares during the period. TIAA Trust National Association bought a new stake in Canadian Pacific Kansas City in the third quarter valued at about $632,000. First Horizon Advisors Inc. raised its stake in Canadian Pacific Kansas City by 3.0% during the third quarter. First Horizon Advisors Inc. now owns 6,099 shares of the transportation company's stock valued at $454,000 after buying an additional 177 shares in the last quarter. Financial Advocates Investment Management raised its position in shares of Canadian Pacific Kansas City by 20.1% during the 3rd quarter. Financial Advocates Investment Management now owns 10,814 shares of the transportation company's stock valued at $807,000 after acquiring an additional 1,808 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Canadian Pacific Kansas City by 20.8% in the 3rd quarter. Assetmark Inc. now owns 20,420 shares of the transportation company's stock worth $1,519,000 after buying an additional 3,523 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CP has been the topic of a number of recent research reports. Scotiabank reiterated a "sector perform" rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. Benchmark reaffirmed a "hold" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Barclays boosted their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Bank of America lowered their price target on Canadian Pacific Kansas City from $97.00 to $92.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Finally, Jefferies Financial Group initiated coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a "buy" rating and a $105.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.42.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded up $0.39 during trading hours on Friday, reaching $82.93. The company's stock had a trading volume of 2,200,230 shares, compared to its average volume of 2,374,577. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The company has a market capitalization of $77.35 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.35 and a beta of 0.96. The firm's 50 day simple moving average is $86.01 and its 200-day simple moving average is $80.48.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.15 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a $0.141 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 17.95%.

Canadian Pacific Kansas City Company 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.