Canadian Pacific Kansas City Limited $CP Stock: Pictet Asset Management Holding SA Decreases Position

Pictet Asset Management Holding SA cut its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 13.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,956 shares of the transportation company’s stock after selling 52,452 shares during the period. Pictet Asset Management Holding SA’s holdings in Canadian Pacific Kansas City were worth $28,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $25,000. Provenance Wealth Advisors LLC purchased a new position in shares of Canadian Pacific Kansas City in the third quarter worth about $26,000. Next Level Wealth Planning LLC purchased a new position in shares of Canadian Pacific Kansas City in the third quarter worth about $26,000. Balance Wealth Partners LLC acquired a new position in Canadian Pacific Kansas City during the third quarter worth about $39,000. Finally, Jones Financial Companies Lllp acquired a new position in Canadian Pacific Kansas City during the second quarter worth about $44,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CP. Stephens dropped their price objective on shares of Canadian Pacific Kansas City from $96.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 24th. Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Barclays set a $104.00 target price on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Evercore restated an “outperform” rating and issued a $96.00 price target on shares of Canadian Pacific Kansas City in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.58.

Canadian Pacific Kansas City Trading Down 0.3%

Shares of CP stock opened at $93.72 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. Canadian Pacific Kansas City Limited has a twelve month low of $68.83 and a twelve month high of $96.90. The company’s 50-day moving average price is $88.54 and its 200-day moving average price is $86.65. The stock has a market cap of $81.57 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.98 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, October 28th. The transportation company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.03). Canadian Pacific Kansas City had a return on equity of 9.27% and a net margin of 24.14%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.67 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Investors of record on Thursday, December 31st will be given a dividend of C$0.27 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.68%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE: CP), known as CPKC, operates a transcontinental freight railway. Its network connects Canada, the United States and Mexico, providing rail transportation and related logistics services for businesses across North America. CPKC carries a range of goods, including grain and other agricultural products, intermodal freight, automotive shipments, energy products, chemicals, forest products and industrial materials. Its services include rail freight transportation, intermodal shipping and logistics solutions.