Jennison Associates LLC Acquires Shares of 26,929 Canadian Pacific Kansas City Limited $CP

Jennison Associates LLC acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the fourth quarter, HoldingsChannel reports. The fund acquired 26,929 shares of the transportation company’s stock, valued at approximately $1,983,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Frank Rimerman Advisors LLC boosted its stake in Canadian Pacific Kansas City by 0.8% in the third quarter. Frank Rimerman Advisors LLC now owns 17,799 shares of the transportation company’s stock valued at $1,326,000 after acquiring an additional 145 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Canadian Pacific Kansas City by 8.1% in the fourth quarter. Cromwell Holdings LLC now owns 1,936 shares of the transportation company’s stock valued at $143,000 after acquiring an additional 145 shares during the last quarter. Fortune Financial Advisors LLC boosted its stake in Canadian Pacific Kansas City by 1.2% in the fourth quarter. Fortune Financial Advisors LLC now owns 13,623 shares of the transportation company’s stock valued at $1,003,000 after acquiring an additional 158 shares during the last quarter. Brookstone Capital Management boosted its stake in Canadian Pacific Kansas City by 1.2% in the fourth quarter. Brookstone Capital Management now owns 14,355 shares of the transportation company’s stock valued at $1,057,000 after acquiring an additional 176 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Canadian Pacific Kansas City by 3.1% in the third quarter. Advisory Services Network LLC now owns 6,764 shares of the transportation company’s stock valued at $504,000 after acquiring an additional 204 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. 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. Sanford C. Bernstein lifted their price target on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Citigroup lifted their price target on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.30.

Canadian Pacific Kansas City Trading Up 0.1%

CP opened at $86.29 on Monday. The stock has a market capitalization of $76.60 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.85 and a beta of 1.09. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $89.42. The firm’s fifty day simple moving average is $82.47 and its 200 day simple moving average is $77.14. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.90%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. As a group, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.75 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a $0.268 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 annualized dividend and a yield of 1.2%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is presently 20.68%.

About Canadian Pacific Kansas City

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.