Sei Investments Co. lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 679,129 shares of the transportation company’s stock after purchasing an additional 60,936 shares during the period. Sei Investments Co. owned 0.07% of Canadian Pacific Kansas City worth $53,468,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. JARISLOWSKY FRASER Ltd raised its stake in shares of Canadian Pacific Kansas City by 63.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 89,644 shares of the transportation company’s stock valued at $7,127,000 after buying an additional 34,856 shares during the period. Meritage Group LP purchased a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $207,850,000. The Manufacturers Life Insurance Company boosted its position in Canadian Pacific Kansas City by 4.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock worth $948,585,000 after purchasing an additional 507,177 shares during the period. Choate Investment Advisors increased its stake in shares of Canadian Pacific Kansas City by 24.2% in the first quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after purchasing an additional 14,037 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC bought a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $4,160,000. Institutional investors own 72.20% of the company’s stock.
Canadian Pacific Kansas City Stock Down 1.2 %
CP opened at $85.86 on Monday. The business’s fifty day simple moving average is $82.16 and its 200 day simple moving average is $82.49. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $80.11 billion, a PE ratio of 27.52, a P/E/G ratio of 2.45 and a beta of 0.96.
Canadian Pacific Kansas City Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.1373 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.64%. Canadian Pacific Kansas City’s payout ratio is 17.31%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Sanford C. Bernstein lifted their price target on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research report on Monday, July 8th. Stifel Nicolaus increased their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Susquehanna reaffirmed a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Finally, Jefferies Financial Group lowered their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.36.
Get Our Latest Stock Report on Canadian Pacific Kansas City
Canadian Pacific Kansas City 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.
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