Metis Global Partners LLC Cuts Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Metis Global Partners LLC reduced its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,378 shares of the transportation company’s stock after selling 1,261 shares during the quarter. Metis Global Partners LLC’s holdings in Canadian Pacific Kansas City were worth $3,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CP. Mirova US LLC purchased a new stake in Canadian Pacific Kansas City in the second quarter worth approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after buying an additional 1,678,784 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Canadian Pacific Kansas City by 8,261.4% during the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after purchasing an additional 932,216 shares in the last quarter. AGF Management Ltd. grew its holdings in Canadian Pacific Kansas City by 86.5% during the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after buying an additional 735,816 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after acquiring an additional 723,188 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Down 0.2 %

Shares of CP stock opened at $75.87 on Friday. 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 fifty-two week low of $69.27 and a fifty-two week high of $91.58. The stock’s 50-day simple moving average is $81.77 and its 200-day simple moving average is $80.70. The firm has a market capitalization of $70.81 billion, a PE ratio of 27.10, a P/E/G ratio of 2.28 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.14 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CP. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Bank of America dropped their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Stephens cut their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their target price for the company from $94.00 to $92.00 in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their price objective on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

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.