CI Investments Inc. Sells 9,179 Shares of Canadian Pacific Kansas City Limited $CP

CI Investments Inc. reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 735,691 shares of the transportation company’s stock after selling 9,179 shares during the period. CI Investments Inc.’s holdings in Canadian Pacific Kansas City were worth $57,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CP. Norges Bank bought a new position in Canadian Pacific Kansas City in the 4th quarter worth about $978,558,000. Janus Henderson Group PLC grew its position in Canadian Pacific Kansas City by 586.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company’s stock valued at $452,781,000 after purchasing an additional 5,251,755 shares during the last quarter. FIL Ltd increased its stake in Canadian Pacific Kansas City by 20.2% during the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock valued at $1,227,045,000 after purchasing an additional 2,804,686 shares in the last quarter. Bessemer Group Inc. increased its stake in Canadian Pacific Kansas City by 5,826.3% during the 1st quarter. Bessemer Group Inc. now owns 2,545,049 shares of the transportation company’s stock valued at $199,605,000 after purchasing an additional 2,502,104 shares in the last quarter. Finally, Canoe Financial LP raised its holdings in Canadian Pacific Kansas City by 45,389.7% in the first quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company’s stock worth $159,885,000 after buying an additional 2,028,010 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $91.25 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The firm has a market cap of $80.76 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. The business has a 50-day simple moving average of $88.49 and a two-hundred day simple moving average of $83.07. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $93.95.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the business earned $1.06 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. Canadian Pacific Kansas City’s payout ratio is currently 24.07%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Canadian Pacific Kansas City from $97.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Sanford C. Bernstein boosted their price objective on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Citizens Jmp assumed coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Stephens upgraded Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.91.

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.