Wells Fargo & Company MN Decreases Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Wells Fargo & Company MN decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,898,626 shares of the transportation company’s stock after selling 56,568 shares during the quarter. Wells Fargo & Company MN’s holdings in Canadian Pacific Kansas City were worth $137,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Canadian Pacific Kansas City by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company’s stock valued at $2,662,978,000 after acquiring an additional 491,966 shares in the last quarter. Norges Bank acquired a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $914,090,000. JPMorgan Chase & Co. grew its position in shares of Canadian Pacific Kansas City by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock valued at $750,046,000 after purchasing an additional 381,594 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Canadian Pacific Kansas City by 9.7% in the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after purchasing an additional 537,418 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Canadian Pacific Kansas City by 27.2% during the fourth quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company’s stock worth $404,849,000 after buying an additional 1,179,108 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $70.26 on Monday. The firm has a 50 day moving average of $75.73 and a two-hundred day moving average of $76.87. The stock has a market capitalization of $65.60 billion, a PE ratio of 24.23, a P/E/G ratio of 2.00 and a beta of 1.01. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 52 week low of $68.00 and a 52 week high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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%. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.1318 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.75%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.93%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CP. Loop Capital cut Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Stephens lifted their target price 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. Barclays dropped their price target on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, StockNews.com lowered shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.68.

About Canadian Pacific Kansas City

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.