Mackenzie Financial Corp Sells 151,617 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Mackenzie Financial Corp lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,737,551 shares of the transportation company’s stock after selling 151,617 shares during the quarter. Canadian Pacific Kansas City comprises about 1.6% of Mackenzie Financial Corp’s holdings, making the stock its 8th largest position. Mackenzie Financial Corp’s holdings in Canadian Pacific Kansas City were worth $1,082,012,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Accretive Wealth Partners LLC boosted its position in Canadian Pacific Kansas City by 1.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock valued at $753,000 after buying an additional 145 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Canadian Pacific Kansas City by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,792 shares of the transportation company’s stock valued at $1,565,000 after purchasing an additional 809 shares during the last quarter. Hsbc Holdings PLC grew its stake in Canadian Pacific Kansas City by 2.8% during the 4th quarter. Hsbc Holdings PLC now owns 337,903 shares of the transportation company’s stock valued at $26,719,000 after purchasing an additional 9,097 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Canadian Pacific Kansas City by 24.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,588 shares of the transportation company’s stock worth $837,000 after purchasing an additional 2,059 shares during the last quarter. Finally, Boston Family Office LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $205,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CP has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Stifel Nicolaus raised their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lowered their target price on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Susquehanna restated a “neutral” rating and issued a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average price target of $96.59.

Canadian Pacific Kansas City Trading Up 0.7 %

Shares of NYSE:CP opened at $85.68 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $79.96 billion, a PE ratio of 27.46, a P/E/G ratio of 2.43 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The firm has a fifty day moving average price of $82.27 and a 200 day moving average price of $82.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Analysts expect that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.64%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.95%.

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.