The Manufacturers Life Insurance Company Sells 2,367,013 Shares of Canadian Pacific Kansas City Limited $CP

The Manufacturers Life Insurance Company cut its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,103,143 shares of the transportation company’s stock after selling 2,367,013 shares during the period. The Manufacturers Life Insurance Company’s holdings in Canadian Pacific Kansas City were worth $637,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Prosperity Bancshares Inc bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $29,000. McMillan Office Inc. bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth about $31,000. Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $35,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Canadian Pacific Kansas City during the third quarter worth about $36,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Barclays set a $102.00 price objective on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a report on Thursday, June 25th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.91.

Canadian Pacific Kansas City Trading Down 1.0%

Shares of CP stock opened at $91.45 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $80.93 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $93.95. The stock’s 50-day moving average price is $88.96 and its 200-day moving average price is $83.59.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly 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 firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.69 EPS for the current fiscal year.

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.