Jennison Associates LLC Sells 9,610 Shares of Canadian Pacific Kansas City Limited $CP

Jennison Associates LLC decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,319 shares of the transportation company’s stock after selling 9,610 shares during the period. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CP. GS Investments Inc. purchased a new position in Canadian Pacific Kansas City during the first quarter valued at $165,000. Financiere des Professionnels Fonds d investissement inc. increased its position in Canadian Pacific Kansas City by 66.1% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,300 shares of the transportation company’s stock worth $3,957,000 after buying an additional 20,019 shares in the last quarter. Bessemer Group Inc. increased its position in Canadian Pacific Kansas City by 5,826.3% in the first quarter. Bessemer Group Inc. now owns 2,545,049 shares of the transportation company’s stock worth $199,605,000 after buying an additional 2,502,104 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Canadian Pacific Kansas City by 2.0% in the first quarter. D.A. Davidson & CO. now owns 25,402 shares of the transportation company’s stock worth $1,998,000 after buying an additional 494 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Canadian Pacific Kansas City by 112.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,500 shares of the transportation company’s stock worth $670,000 after buying an additional 4,494 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $91.20 on Thursday. The firm has a market cap of $80.71 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $88.60 and a 200-day moving average price of $83.20. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $93.95.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. As a group, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.69 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, July 27th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.268 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is 24.07%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CP shares. Citigroup boosted their price objective on Canadian Pacific Kansas City from $97.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, April 17th. Evercore set a $91.00 price target on shares of Canadian Pacific Kansas City and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Finally, Argus set a $105.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.91.

Canadian Pacific Kansas City Company Profile

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.