Principal Financial Group Inc. Has $150.46 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Principal Financial Group Inc. lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,892,368 shares of the transportation company's stock after selling 593,293 shares during the period. Principal Financial Group Inc. owned 0.20% of Canadian Pacific Kansas City worth $150,459,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sands Capital Management LLC acquired a new position in Canadian Pacific Kansas City during the third quarter valued at approximately $31,000. Anchor Investment Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $40,000. Independence Bank of Kentucky bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $43,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $45,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Canadian Pacific Kansas City in the fourth quarter worth $70,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Down 1.1 %

CP traded down $0.90 during midday trading on Monday, reaching $82.03. 2,547,785 shares of the company were exchanged, compared to its average volume of 2,140,081. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49. Canadian Pacific Kansas City Limited has a one year low of $68.92 and a one year high of $91.58. The stock has a market capitalization of $76.52 billion, a P/E ratio of 26.34, a PEG ratio of 2.35 and a beta of 0.96. The stock's 50-day simple moving average is $86.01 and its 200 day simple moving average is $80.56.

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). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 3.15 earnings per share for the current fiscal 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 issued a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 17.95%.

Analyst Ratings Changes

Several brokerages recently commented on CP. Evercore reduced their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an "outperform" rating for the company in a research report on Thursday, April 25th. StockNews.com raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Wednesday, January 31st. Susquehanna cut their price objective on Canadian Pacific Kansas City from $84.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Bank of America cut their price objective on Canadian Pacific Kansas City from $97.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Finally, Barclays raised their target price 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. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.42.

Canadian Pacific Kansas City 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.

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