Coronation Fund Managers Ltd. Sells 6,830 Shares of Canadian Pacific Kansas City Limited $CP

Coronation Fund Managers Ltd. lowered its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.2% in the third quarter, HoldingsChannel reports. The fund owned 41,179 shares of the transportation company’s stock after selling 6,830 shares during the period. Coronation Fund Managers Ltd.’s holdings in Canadian Pacific Kansas City were worth $3,067,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Dilation Capital Management LP increased its position in Canadian Pacific Kansas City by 4.4% during the third quarter. Dilation Capital Management LP now owns 170,269 shares of the transportation company’s stock worth $12,683,000 after buying an additional 7,105 shares during the last quarter. Meixler Investment Management Ltd. bought a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $1,644,000. AGF Management Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 9.9% during the 3rd quarter. AGF Management Ltd. now owns 2,001,292 shares of the transportation company’s stock worth $149,215,000 after acquiring an additional 180,419 shares during the last quarter. Nicola Wealth Management LTD. raised its stake in Canadian Pacific Kansas City by 46.8% in the 3rd quarter. Nicola Wealth Management LTD. now owns 141,500 shares of the transportation company’s stock valued at $10,539,000 after acquiring an additional 45,100 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Canadian Pacific Kansas City by 1.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,127,435 shares of the transportation company’s stock valued at $83,985,000 after purchasing an additional 14,916 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group set a $90.00 price objective on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Barclays set a $93.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, January 29th. Citigroup decreased their price target on shares of Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Morgan Stanley upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $83.74 on Friday. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $85.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63. The firm’s 50-day simple moving average is $74.77 and its 200 day simple moving average is $74.37. The firm has a market cap of $75.16 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.78 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). Canadian Pacific Kansas City had a return on equity of 8.88% and a net margin of 27.49%.The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.43%.

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.