TD Asset Management Inc. Lowers Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

TD Asset Management Inc. reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,761,327 shares of the transportation company’s stock after selling 943,085 shares during the quarter. Canadian Pacific Kansas City comprises about 1.3% of TD Asset Management Inc.’s investment portfolio, making the stock its 12th biggest position. TD Asset Management Inc. owned 2.22% of Canadian Pacific Kansas City worth $1,502,461,000 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 CP. Thrivent Financial for Lutherans lifted its stake in shares of Canadian Pacific Kansas City by 61.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 19,807 shares of the transportation company’s stock valued at $1,694,000 after purchasing an additional 7,573 shares in the last quarter. Prospera Financial Services Inc raised its holdings in Canadian Pacific Kansas City by 4.0% in the third quarter. Prospera Financial Services Inc now owns 4,903 shares of the transportation company’s stock valued at $420,000 after buying an additional 190 shares during the period. Cerity Partners LLC lifted its position in Canadian Pacific Kansas City by 33.0% during the third quarter. Cerity Partners LLC now owns 81,567 shares of the transportation company’s stock valued at $6,977,000 after buying an additional 20,220 shares in the last quarter. Larson Financial Group LLC grew its stake in Canadian Pacific Kansas City by 20.6% during the third quarter. Larson Financial Group LLC now owns 2,518 shares of the transportation company’s stock worth $215,000 after buying an additional 430 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Canadian Pacific Kansas City by 10.3% in the third quarter. Fisher Asset Management LLC now owns 1,353,769 shares of the transportation company’s stock worth $115,801,000 after acquiring an additional 126,602 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Up 1.9 %

NYSE:CP opened at $73.32 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $68.46 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. Canadian Pacific Kansas City Limited has a one year low of $70.89 and a one year high of $89.26. The stock has a 50-day simple moving average of $76.68 and a 200 day simple moving average of $77.78.

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, beating analysts’ consensus estimates 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%. Sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given 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 dividend yield of 0.72%. Canadian Pacific Kansas City’s payout ratio is currently 17.93%.

Analysts Set New Price Targets

CP has been the topic of several recent research reports. Susquehanna reduced their target price on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. StockNews.com cut Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Citigroup increased their target price on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, January 8th. Finally, Loop Capital downgraded shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.45.

Canadian Pacific Kansas City Company 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.