Kornitzer Capital Management Inc. KS Sells 6,655 Shares of Canadian Pacific Kansas City Limited $CP

Kornitzer Capital Management Inc. KS lowered its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,610 shares of the transportation company’s stock after selling 6,655 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Canadian Pacific Kansas City were worth $5,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Canadian Pacific Kansas City in the second quarter valued at approximately $802,983,000. The Manufacturers Life Insurance Company purchased a new position in shares of Canadian Pacific Kansas City during the second quarter worth approximately $657,672,000. Legal & General Group Plc purchased a new position in shares of Canadian Pacific Kansas City during the second quarter worth approximately $604,797,000. Jupiter Topco LLC acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $576,687,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $542,469,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.1%

Canadian Pacific Kansas City stock opened at $92.06 on Monday. Canadian Pacific Kansas City Limited has a twelve month low of $68.50 and a twelve month high of $96.90. The stock has a 50 day moving average of $88.52 and a two-hundred day moving average of $86.43. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $80.13 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.94 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 28th. The transportation company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Canadian Pacific Kansas City had a net margin of 24.14% and a return on equity of 9.27%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. As a group, research analysts expect that Canadian Pacific Kansas City Limited will post 3.67 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The company 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 C$0.27 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 24.36%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna upped their price target on shares of Canadian Pacific Kansas City from $98.00 to $105.00 and gave the company a “positive” rating in a research report on Tuesday, November 3rd. Evercore reissued an “outperform” rating and set a $96.00 price objective on shares of Canadian Pacific Kansas City in a research report on Thursday, October 29th. Citigroup reissued a “cautious” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 7th. Zacks Research lowered shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Finally, Weiss Ratings cut shares of Canadian Pacific Kansas City from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.58.

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.

The company was formed in April 2023 through the combination of Canadian Pacific Railway and Kansas City Southern.