Pictet Asset Management Holding SA Sells 304,121 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Pictet Asset Management Holding SA lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 35.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 546,109 shares of the transportation company’s stock after selling 304,121 shares during the period. Pictet Asset Management Holding SA’s holdings in Canadian Pacific Kansas City were worth $39,521,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $34,000. Stonebridge Financial Group LLC bought a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $34,000. YANKCOM Partnership acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter worth $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CP shares. Royal Bank of Canada increased their price objective on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup lifted their price target on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Wolfe Research raised 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.95.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $69.31 on Monday. 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 company has a market cap of $64.72 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The company has a 50 day moving average of $76.45 and a 200-day moving average of $77.42. Canadian Pacific Kansas City Limited has a 1-year low of $69.25 and a 1-year high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.1318 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.93%.

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.