Jennison Associates LLC Acquires 12,036 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Jennison Associates LLC grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 26.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 57,878 shares of the transportation company’s stock after acquiring an additional 12,036 shares during the quarter. Jennison Associates LLC’s holdings in Canadian Pacific Kansas City were worth $4,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. YCG LLC raised its position in Canadian Pacific Kansas City by 32.5% during the fourth quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock valued at $29,444,000 after purchasing an additional 91,276 shares during the period. SG Americas Securities LLC increased its position in shares of Canadian Pacific Kansas City by 15.3% during the 4th quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company’s stock valued at $7,606,000 after purchasing an additional 12,748 shares during the last quarter. Element Capital Management LLC purchased a new stake in Canadian Pacific Kansas City during the 3rd quarter valued at $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian Pacific Kansas City by 5.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock worth $24,525,000 after buying an additional 14,557 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth $5,392,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $81.66 on Friday. The stock has a market capitalization of $76.16 billion, a PE ratio of 26.17, a PEG ratio of 2.10 and a beta of 0.94. The company has a 50 day moving average price of $87.04 and a 200-day moving average price of $79.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.57%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities analysts predict that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a dividend of $0.141 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is 17.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CP. Susquehanna Bancshares downgraded shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and reduced their target price for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Scotiabank reissued a “sector perform” rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. TD Securities cut Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. StockNews.com raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Evercore dropped their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.42.

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.