Artemis Investment Management LLP Cuts Stake in Canadian Pacific Kansas City Limited $CP

Artemis Investment Management LLP lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 63.8% during the fourth quarter, HoldingsChannel reports. The firm owned 54,045 shares of the transportation company’s stock after selling 95,367 shares during the period. Artemis Investment Management LLP’s holdings in Canadian Pacific Kansas City were worth $3,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CP. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 18.3% during the 3rd quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after buying an additional 3,585,030 shares during the period. Lazard Asset Management LLC boosted its holdings in Canadian Pacific Kansas City by 281.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,379,393 shares of the transportation company’s stock worth $102,711,000 after acquiring an additional 1,017,576 shares during the period. BNP Paribas Financial Markets boosted its holdings in Canadian Pacific Kansas City by 818,578.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 925,107 shares of the transportation company’s stock worth $68,911,000 after acquiring an additional 924,994 shares during the period. QV Investors Inc. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $53,667,000. Finally, CIBC Asset Management Inc raised its stake in shares of Canadian Pacific Kansas City by 9.1% during the third quarter. CIBC Asset Management Inc now owns 8,352,370 shares of the transportation company’s stock valued at $623,937,000 after purchasing an additional 698,705 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

CP has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their target price on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. 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. Finally, Sanford C. Bernstein raised their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.30.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $86.29 on Friday. The firm has a market cap of $76.99 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.86 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.41. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $89.42. The firm has a fifty day moving average of $82.47 and a two-hundred day moving average of $77.13.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.90%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company posted $1.06 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.75 earnings per share for the current fiscal 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 is Friday, June 26th. This is an increase 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 currently 20.68%.

Canadian Pacific Kansas City Company 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.