Massachusetts Financial Services Co. MA Lowers Holdings in Canadian Pacific Kansas City Limited $CP

Massachusetts Financial Services Co. MA decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,747,085 shares of the transportation company’s stock after selling 123,416 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Canadian Pacific Kansas City were worth $577,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Canadian Pacific Kansas City by 2.9% in the second quarter. Vanguard Group Inc. now owns 38,223,823 shares of the transportation company’s stock worth $3,036,558,000 after acquiring an additional 1,080,835 shares during the period. TD Asset Management Inc increased its position in Canadian Pacific Kansas City by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock valued at $1,665,106,000 after purchasing an additional 136,970 shares during the period. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 15.1% in the 2nd quarter. Invesco Ltd. now owns 19,543,455 shares of the transportation company’s stock valued at $1,549,210,000 after purchasing an additional 2,559,104 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Canadian Pacific Kansas City by 0.9% in the 2nd quarter. Mackenzie Financial Corp now owns 16,498,767 shares of the transportation company’s stock worth $1,311,512,000 after purchasing an additional 150,963 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Canadian Pacific Kansas City by 87.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock worth $1,268,325,000 after purchasing an additional 7,454,810 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Up 0.3%

Canadian Pacific Kansas City stock opened at $72.58 on Monday. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The business has a fifty day moving average price of $72.68 and a 200-day moving average price of $74.71. 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 market capitalization of $65.15 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.60 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced 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). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the company earned $0.99 earnings per share. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be given a $0.228 dividend. This represents a $0.91 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s payout ratio is 20.12%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CP. Evercore ISI cut their price objective on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Susquehanna set a $87.00 price target on Canadian Pacific Kansas City in a report on Thursday, October 30th. Citigroup set a $88.00 price objective on Canadian Pacific Kansas City and gave the stock a “buy” rating in a research note on Thursday, January 8th. Natl Bk Canada downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Jefferies Financial Group set a $90.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.36.

About Canadian Pacific Kansas City

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.