Canadian Pacific Kansas City Limited $CP Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 802,918 shares of the transportation company’s stock after selling 80,073 shares during the quarter. Canadian Pacific Kansas City accounts for 2.2% of Addenda Capital Inc.’s investment portfolio, making the stock its 13th biggest position. Addenda Capital Inc. owned 0.09% of Canadian Pacific Kansas City worth $59,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CP. Vanderbilt University lifted its holdings in shares of Canadian Pacific Kansas City by 10.3% during the second quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock worth $5,982,000 after purchasing an additional 7,050 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its position in Canadian Pacific Kansas City by 2.2% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock worth $51,410,000 after purchasing an additional 14,260 shares during the last quarter. Key Financial Inc acquired a new position in Canadian Pacific Kansas City during the 2nd quarter worth about $371,000. Ninety One North America Inc. grew its position in shares of Canadian Pacific Kansas City by 135.7% in the 2nd quarter. Ninety One North America Inc. now owns 206,785 shares of the transportation company’s stock valued at $16,394,000 after buying an additional 119,052 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Canadian Pacific Kansas City by 7.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,935,337 shares of the transportation company’s stock valued at $153,847,000 after buying an additional 136,981 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. National Bankshares reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Jefferies Financial Group set a $90.00 price objective on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Barclays set a $90.00 target price on Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.69.

Canadian Pacific Kansas City Trading Up 0.8%

Shares of Canadian Pacific Kansas City stock opened at $74.12 on Friday. The firm has a market cap of $66.50 billion, a PE ratio of 22.60, a P/E/G ratio of 1.85 and a beta of 1.11. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a fifty day moving average price of $73.01 and a 200-day moving average price of $75.87.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.71 billion. Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.228 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio is 20.12%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.