Bessemer Group Inc. Sells 2,931,428 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bessemer Group Inc. reduced its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 97.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,858 shares of the transportation company’s stock after selling 2,931,428 shares during the period. Bessemer Group Inc.’s holdings in Canadian Pacific Kansas City were worth $4,908,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CP. Norges Bank bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $914,090,000. Allspring Global Investments Holdings LLC raised its holdings in Canadian Pacific Kansas City by 281.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after acquiring an additional 2,532,519 shares in the last quarter. Invesco Ltd. raised its holdings in Canadian Pacific Kansas City by 25.7% in the 4th quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company’s stock valued at $770,526,000 after acquiring an additional 2,177,604 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Canadian Pacific Kansas City by 27.2% in the 4th quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company’s stock worth $404,849,000 after acquiring an additional 1,179,108 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Canadian Pacific Kansas City by 260.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,457,682 shares of the transportation company’s stock worth $105,492,000 after purchasing an additional 1,053,570 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Up 3.4 %

CP stock opened at $73.63 on Friday. The business has a fifty day moving average price of $74.62 and a 200 day moving average price of $76.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $88.31. The stock has a market capitalization of $68.74 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.00 and a beta of 1.01.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.1318 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.93%.

Wall Street Analyst Weigh In

CP has been the subject of a number of recent research reports. Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price for the company in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada upped their target price on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Stephens raised their price target on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.55.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.