M&G PLC Sells 34,613 Shares of Canadian Pacific Kansas City Limited $CP

M&G PLC trimmed its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 15.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,703 shares of the transportation company’s stock after selling 34,613 shares during the quarter. M&G PLC’s holdings in Canadian Pacific Kansas City were worth $15,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Forsta AP Fonden boosted its holdings in Canadian Pacific Kansas City by 6.3% in the second quarter. Forsta AP Fonden now owns 179,500 shares of the transportation company’s stock worth $14,231,000 after acquiring an additional 10,600 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Canadian Pacific Kansas City by 7.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,935,337 shares of the transportation company’s stock worth $153,847,000 after purchasing an additional 136,981 shares during the period. Avalon Capital Management bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth $759,000. Boston Partners lifted its holdings in shares of Canadian Pacific Kansas City by 4.1% in the 2nd quarter. Boston Partners now owns 31,559 shares of the transportation company’s stock worth $2,502,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $1,171,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CP. National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Stephens increased their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Susquehanna set a $87.00 target price on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Finally, Jefferies Financial Group set a $90.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $72.41 on Thursday. The company’s 50 day moving average is $74.65 and its 200-day moving average is $76.82. The firm has a market cap of $65.21 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46.

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

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be paid a $0.228 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.91 annualized dividend and a yield of 1.3%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio is currently 19.51%.

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.