Jennison Associates LLC Has $2.87 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Jennison Associates LLC lessened its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 41.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,600 shares of the transportation company’s stock after selling 24,221 shares during the quarter. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $2,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its holdings in shares of Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the last quarter. Tower View Wealth Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 0.3% during the third quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock worth $4,410,000 after buying an additional 130 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Canadian Pacific Kansas City by 3.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock valued at $355,000 after acquiring an additional 131 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Canadian Pacific Kansas City by 4.7% in the 3rd quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock worth $260,000 after acquiring an additional 135 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Canadian Pacific Kansas City by 12.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock worth $107,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Stifel Nicolaus decreased their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Stephens dropped their target price on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Citigroup reduced their target price on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein lowered their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.68.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $76.69 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The stock has a market cap of $71.58 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The stock’s 50-day moving average price is $80.34 and its two-hundred day moving average price is $80.45. Canadian Pacific Kansas City Limited has a 1 year low of $69.27 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.06 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, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.73%. Canadian Pacific Kansas City’s payout ratio is currently 20.00%.

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.