Holocene Advisors LP Sells 1,452,671 Shares of Canadian Pacific Kansas City Limited $CP

Holocene Advisors LP lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 47.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,616,554 shares of the transportation company’s stock after selling 1,452,671 shares during the quarter. Holocene Advisors LP’s holdings in Canadian Pacific Kansas City were worth $128,144,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in Canadian Pacific Kansas City in the first quarter worth $51,364,000. Public Sector Pension Investment Board grew its position in shares of Canadian Pacific Kansas City by 0.7% in the 1st quarter. Public Sector Pension Investment Board now owns 90,169 shares of the transportation company’s stock worth $6,327,000 after buying an additional 600 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth about $59,000. Boston Partners bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth about $2,128,000. Finally, Vestmark Advisory Solutions Inc. lifted its position in Canadian Pacific Kansas City by 41.8% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 32,183 shares of the transportation company’s stock valued at $2,260,000 after acquiring an additional 9,482 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CP has been the subject of a number of recent research reports. Citigroup lowered their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Morgan Stanley upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research note on Monday. Jefferies Financial Group set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Royal Bank Of Canada decreased their target price on shares of Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Evercore ISI cut their price target on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.69.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $75.11 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. The business has a 50-day simple moving average of $73.28 and a two-hundred day simple moving average of $76.07. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be given a $0.228 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is presently 19.82%.

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.