Canadian Pacific Kansas City Limited $CP Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 13.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 336,956 shares of the transportation company’s stock after selling 52,452 shares during the period. Pictet Asset Management Holding SA’s holdings in Canadian Pacific Kansas City were worth $28,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CP. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Canadian Pacific Kansas City during the second quarter worth approximately $802,983,000. The Manufacturers Life Insurance Company acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $657,672,000. Legal & General Group Plc acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $604,797,000. Jupiter Topco LLC acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $576,687,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $542,469,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP stock opened at $93.72 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $81.57 billion, a P/E ratio of 26.56, a PEG ratio of 1.98 and a beta of 1.06. The business has a 50 day simple moving average of $88.54 and a 200-day simple moving average of $86.65. Canadian Pacific Kansas City Limited has a twelve month low of $68.83 and a twelve month high of $96.90.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 28th. The transportation company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). Canadian Pacific Kansas City had a net margin of 24.14% and a return on equity of 9.27%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.67 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Shareholders of record on Thursday, December 31st will be given a dividend of C$0.27 per share. This represents a $1.07 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.68%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CP. Barclays set a $104.00 target price on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, October 29th. Evercore reissued an “outperform” rating and issued a $96.00 price target on shares of Canadian Pacific Kansas City in a research report on Thursday, October 29th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 24th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average price target of $112.58.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE: CP), known as CPKC, operates a transcontinental freight railway. Its network connects Canada, the United States and Mexico, providing rail transportation and related logistics services for businesses across North America. CPKC carries a range of goods, including grain and other agricultural products, intermodal freight, automotive shipments, energy products, chemicals, forest products and industrial materials. Its services include rail freight transportation, intermodal shipping and logistics solutions.