CIBC Asset Management Inc Has $568.43 Million Stock Holdings in Canadian Pacific Kansas City Limited $CP

CIBC Asset Management Inc lessened its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,683,036 shares of the transportation company’s stock after selling 669,334 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 1.4% of CIBC Asset Management Inc’s investment portfolio, making the stock its 22nd biggest position. CIBC Asset Management Inc owned about 0.86% of Canadian Pacific Kansas City worth $568,426,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Meixler Investment Management Ltd. acquired a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $1,644,000. Rothschild & Co Wealth Management UK Ltd boosted its stake in shares of Canadian Pacific Kansas City by 0.9% in the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,353,188 shares of the transportation company’s stock valued at $394,156,000 after purchasing an additional 48,258 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Canadian Pacific Kansas City by 1.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,127,435 shares of the transportation company’s stock valued at $83,985,000 after purchasing an additional 14,916 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Canadian Pacific Kansas City by 7.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 153,448 shares of the transportation company’s stock valued at $11,430,000 after purchasing an additional 10,726 shares in the last quarter. Finally, Templeton & Phillips Capital Management LLC boosted its stake in shares of Canadian Pacific Kansas City by 100.0% in the 3rd quarter. Templeton & Phillips Capital Management LLC now owns 28,660 shares of the transportation company’s stock valued at $2,135,000 after purchasing an additional 14,330 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CP shares. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, April 17th. Citigroup raised their price target on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Barclays set a $99.00 price objective on Canadian Pacific Kansas City and gave the company an “overweight” rating in a report on Thursday, April 30th. Sanford C. Bernstein raised their price objective on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus target price of $96.50.

Canadian Pacific Kansas City Stock Up 1.7%

NYSE:CP opened at $90.20 on Wednesday. The firm’s 50 day simple moving average is $83.52 and its 200 day simple moving average is $79.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $91.46. The company has a market cap of $80.02 billion, a PE ratio of 27.84, a P/E/G ratio of 1.90 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a dividend of $0.268 per share. The ex-dividend date is Friday, June 26th. This represents a $1.07 annualized dividend and a yield of 1.2%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio is 20.68%.

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.