Congress Asset Management Co. Sells 896 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Congress Asset Management Co. reduced its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,164 shares of the transportation company’s stock after selling 896 shares during the quarter. Congress Asset Management Co.’s holdings in Canadian Pacific Kansas City were worth $3,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CP. Vanguard Group Inc. lifted its position in Canadian Pacific Kansas City by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after acquiring an additional 588,701 shares in the last quarter. TD Asset Management Inc lifted its holdings 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 valued at $1,915,196,000 after purchasing an additional 532,303 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after buying an additional 533,792 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after buying an additional 723,188 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after buying an additional 216,062 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $77.08 on Friday. The company has a market capitalization of $71.94 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.32 and a beta of 0.96. 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 Limited has a 52 week low of $69.08 and a 52 week high of $91.58. The company has a 50-day simple moving average of $82.60 and a 200 day simple moving average of $81.07.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CP. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Sanford C. Bernstein decreased their target price on shares of 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. Jefferies Financial Group lowered 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 note 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 note on Wednesday, July 10th. Finally, Evercore ISI lifted their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.15.

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.