Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,429,087 shares of the transportation company’s stock after selling 235,179 shares during the quarter. Canadian Pacific Kansas City comprises 0.7% of William Blair Investment Management LLC’s holdings, making the stock its 28th biggest position. William Blair Investment Management LLC owned approximately 0.37% of Canadian Pacific Kansas City worth $269,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Canadian Pacific Kansas City by 1.7% in the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after acquiring an additional 588,701 shares during the period. TD Asset Management Inc increased its stake in shares of Canadian Pacific Kansas City by 2.5% in the first quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after acquiring an additional 532,303 shares during the period. Veritas Asset Management LLP increased its stake in shares of Canadian Pacific Kansas City by 1.8% in the fourth quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after acquiring an additional 243,210 shares during the period. Norges Bank acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $979,890,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Canadian Pacific Kansas City by 4.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock worth $948,585,000 after acquiring an additional 507,177 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $86.32 on Friday. The company’s 50-day moving average price is $81.63 and its 200-day moving average price is $82.52. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The company has a market cap of $80.56 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.45 and a beta of 0.96. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. This represents a $0.55 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CP. Barclays cut their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group dropped their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.36.

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.