Fisher Funds Management LTD Invests $44.01 Million in Canadian Pacific Kansas City Limited (NYSE:CP)

Fisher Funds Management LTD purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 607,006 shares of the transportation company’s stock, valued at approximately $44,008,000. Canadian Pacific Kansas City accounts for 1.1% of Fisher Funds Management LTD’s investment portfolio, making the stock its 26th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of CP. S&CO Inc. grew its position in shares of Canadian Pacific Kansas City by 183.3% during the 3rd quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock worth $1,454,000 after buying an additional 11,000 shares in the last quarter. Swiss National Bank lifted its stake in Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock worth $241,645,000 after acquiring an additional 23,000 shares during the period. Oak Family Advisors LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth about $262,000. Barclays PLC increased its position in Canadian Pacific Kansas City by 2.8% during the 3rd quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock valued at $250,602,000 after purchasing an additional 81,111 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Canadian Pacific Kansas City by 20.4% in the 3rd quarter. Toronto Dominion Bank now owns 2,083,106 shares of the transportation company’s stock valued at $178,189,000 after purchasing an additional 352,534 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 1.1 %

Shares of Canadian Pacific Kansas City stock opened at $77.32 on Friday. The firm’s 50 day simple moving average is $76.02 and its two-hundred day simple moving average is $78.59. The firm has a market capitalization of $72.19 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.00 and a beta of 0.97. Canadian Pacific Kansas City Limited has a 12-month low of $70.89 and a 12-month high of $91.58. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.1318 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.68%. Canadian Pacific Kansas City’s dividend payout ratio is currently 18.62%.

Analyst Ratings Changes

CP has been the topic of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Stephens upped their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. StockNews.com downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Citigroup upped their price objective on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Barclays cut their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $95.45.

About Canadian Pacific Kansas City

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.