Jennison Associates LLC Boosts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Jennison Associates LLC lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 26.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,878 shares of the transportation company’s stock after acquiring an additional 12,036 shares during the period. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $4,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YCG LLC lifted its holdings in shares of Canadian Pacific Kansas City by 32.5% in the 4th quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock worth $29,444,000 after acquiring an additional 91,276 shares during the last quarter. SG Americas Securities LLC lifted its stake in Canadian Pacific Kansas City by 15.3% in the fourth quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company’s stock worth $7,606,000 after purchasing an additional 12,748 shares during the last quarter. Element Capital Management LLC purchased a new stake in Canadian Pacific Kansas City during the third quarter valued at about $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Canadian Pacific Kansas City by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock valued at $24,525,000 after buying an additional 14,557 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth about $5,392,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore dropped their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America lowered their price target on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating for the company in a report on Thursday. Barclays raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus dropped their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Thursday. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $81.66 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $87.04 and its 200-day moving average price is $79.80. The stock has a market cap of $76.16 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. Canadian Pacific Kansas City Limited has a 12 month low of $68.92 and a 12 month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.57% and a net margin of 28.27%. On average, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

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.