Massachusetts Financial Services Co. MA Sells 1,324,341 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Massachusetts Financial Services Co. MA reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,428,818 shares of the transportation company’s stock after selling 1,324,341 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Canadian Pacific Kansas City were worth $1,405,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Grove Bank & Trust grew its stake in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares during the last quarter. Tower View Wealth Management LLC increased its position in Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock valued at $4,410,000 after purchasing an additional 130 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in shares of Canadian Pacific Kansas City by 3.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock worth $355,000 after acquiring an additional 131 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Canadian Pacific Kansas City by 4.7% during the third quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock valued at $260,000 after buying an additional 135 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Canadian Pacific Kansas City by 12.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 141 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $73.55 on Thursday. The stock has a market capitalization of $68.65 billion, a P/E ratio of 26.27, a PEG ratio of 2.19 and a beta of 0.98. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average price is $80.77 and its 200 day moving average price is $80.53. Canadian Pacific Kansas City Limited has a twelve month low of $69.27 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is presently 19.64%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CP shares. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Evercore ISI lifted their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Citigroup dropped their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Barclays boosted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price objective for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

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.