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

CIBC Asset Management Inc cut its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,683,036 shares of the transportation company’s stock after selling 669,334 shares during the quarter. Canadian Pacific Kansas City makes up approximately 1.4% of CIBC Asset Management Inc’s portfolio, making the stock its 22nd biggest position. CIBC Asset Management Inc’s holdings in Canadian Pacific Kansas City were worth $568,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dover Advisors LLC lifted its holdings in Canadian Pacific Kansas City by 12.9% during the 4th quarter. Dover Advisors LLC now owns 9,161 shares of the transportation company’s stock worth $676,000 after buying an additional 1,049 shares during the period. Capital Innovations LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth approximately $10,465,000. Channing Global Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 2.8% in the 4th quarter. Channing Global Advisors LLC now owns 188,028 shares of the transportation company’s stock worth $13,859,000 after purchasing an additional 5,186 shares during the period. Minneapolis Portfolio Management Group LLC lifted its position in shares of Canadian Pacific Kansas City by 5.2% in the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 330,189 shares of the transportation company’s stock worth $24,312,000 after purchasing an additional 16,272 shares during the period. Finally, Bearing Point Capital LLC lifted its position in shares of Canadian Pacific Kansas City by 14.9% in the 4th quarter. Bearing Point Capital LLC now owns 40,386 shares of the transportation company’s stock worth $2,974,000 after purchasing an additional 5,246 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Up 1.7%

Shares of NYSE:CP opened at $90.20 on Wednesday. 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 1 year low of $68.42 and a 1 year high of $91.46. The business’s 50-day moving average is $83.52 and its 200-day moving average is $79.02. The company has a market capitalization of $80.02 billion, a price-to-earnings 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 released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.76 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, July 27th. Investors of record on Friday, June 26th will be given a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. 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 presently 20.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Scotiabank downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Barclays set a $99.00 price target on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, April 30th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada dropped their price objective on Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.50.

About Canadian Pacific Kansas City

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.