Coronation Fund Managers Ltd. Lowers Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Coronation Fund Managers Ltd. cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 27.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,177 shares of the transportation company’s stock after selling 192,868 shares during the quarter. Canadian Pacific Kansas City accounts for about 2.5% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 15th biggest position. Coronation Fund Managers Ltd. owned approximately 0.06% of Canadian Pacific Kansas City worth $44,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CP. Grove Bank & Trust increased its position in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at approximately $32,000. Chris Bulman Inc purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $35,000. Asset Dedication LLC purchased a new stake in shares of Canadian Pacific Kansas City during the third quarter valued at approximately $38,000. Finally, ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $39,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup increased their price target on Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Sanford C. Bernstein decreased their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their target price for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Evercore ISI raised their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group decreased their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average target price of $94.15.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $77.06 on Friday. The firm has a market capitalization of $71.92 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 2.29 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52-week low of $69.08 and a 52-week high of $91.58. The stock has a fifty day moving average of $82.60 and a 200 day moving average of $81.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. On average, research analysts expect that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.14 per share. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.73%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.64%.

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.