Jennison Associates LLC Sells 9,610 Shares of Canadian Pacific Kansas City Limited $CP

Jennison Associates LLC lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 35.7% during the 1st quarter, Holdings Channel reports. The firm owned 17,319 shares of the transportation company’s stock after selling 9,610 shares during the quarter. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $1,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prosperity Bancshares Inc bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $29,000. McMillan Office Inc. bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $31,000. Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City during the first quarter valued at approximately $35,000. Finally, Wealth Watch Advisors INC purchased a new position in Canadian Pacific Kansas City during the 3rd quarter valued at approximately $36,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CP shares. National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Evercore set a $91.00 target price on shares of Canadian Pacific Kansas City and gave the company an “outperform” rating in a report on Thursday, June 25th. ATB Cormark Capital Markets cut shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Argus set a $105.00 price target on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Finally, Citizens Jmp initiated coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $104.91.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $91.20 on Thursday. The firm has a market capitalization of $80.71 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The business has a 50 day simple moving average of $88.60 and a 200-day simple moving average of $83.20. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $93.95.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.69 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is presently 24.07%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.