Kornitzer Capital Management Inc. KS Sells 3,938 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,813 shares of the transportation company’s stock after selling 3,938 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Canadian Pacific Kansas City were worth $6,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC grew its position in Canadian Pacific Kansas City by 45.6% during the fourth quarter. Venturi Wealth Management LLC now owns 9,113 shares of the transportation company’s stock valued at $660,000 after buying an additional 2,852 shares during the period. Blue Zone Wealth Advisors LLC grew its position in Canadian Pacific Kansas City by 4.2% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 54,043 shares of the transportation company’s stock valued at $3,911,000 after buying an additional 2,187 shares during the period. Secured Retirement Advisors LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at about $873,000. Allworth Financial LP grew its position in Canadian Pacific Kansas City by 674.0% during the fourth quarter. Allworth Financial LP now owns 85,754 shares of the transportation company’s stock valued at $6,725,000 after buying an additional 74,674 shares during the period. Finally, Principal Securities Inc. grew its position in Canadian Pacific Kansas City by 8.5% during the fourth quarter. Principal Securities Inc. now owns 7,764 shares of the transportation company’s stock valued at $562,000 after buying an additional 610 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 2.3 %

CP opened at $79.30 on Wednesday. The firm has a market cap of $74.03 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.02 and a beta of 0.97. Canadian Pacific Kansas City Limited has a 12 month low of $70.89 and a 12 month high of $91.58. 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 50-day moving average of $75.85 and a 200 day moving average of $78.59.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. As a group, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.4 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio is presently 18.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CP shares. Stephens increased their price target on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wolfe Research raised shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a report on Wednesday, January 8th. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Barclays dropped their price objective on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Citigroup upped their price objective on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.45.

Canadian Pacific Kansas City 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.