Skye Global Management LP Sells 132,000 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Skye Global Management LP lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,154,000 shares of the transportation company’s stock after selling 132,000 shares during the period. Canadian Pacific Kansas City comprises about 1.7% of Skye Global Management LP’s investment portfolio, making the stock its 13th biggest holding. Skye Global Management LP’s holdings in Canadian Pacific Kansas City were worth $83,515,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Prevatt Capital Ltd raised its holdings in shares of Canadian Pacific Kansas City by 86.7% in the fourth quarter. Prevatt Capital Ltd now owns 280,000 shares of the transportation company’s stock worth $20,264,000 after buying an additional 130,000 shares during the period. Paradoxiom Capital L.P. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth $9,798,000. Pathstone Holdings LLC raised its holdings in shares of Canadian Pacific Kansas City by 6.6% during the fourth quarter. Pathstone Holdings LLC now owns 265,090 shares of the transportation company’s stock worth $19,192,000 after purchasing an additional 16,329 shares during the last quarter. Malaga Cove Capital LLC lifted its holdings in shares of Canadian Pacific Kansas City by 6.6% in the 4th quarter. Malaga Cove Capital LLC now owns 8,763 shares of the transportation company’s stock valued at $634,000 after buying an additional 539 shares during the period. Finally, Man Group plc acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $18,256,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CP shares. Stephens upped their price target on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Susquehanna lifted their price objective on Canadian Pacific Kansas City from $88.00 to $90.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. Loop Capital cut shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Barclays lowered their target price on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group lowered their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Canadian Pacific Kansas City Stock Up 0.6%

Canadian Pacific Kansas City stock opened at $81.75 on Friday. The company has a market capitalization of $76.06 billion, a P/E ratio of 28.19, a PEG ratio of 2.00 and a beta of 1.09. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The stock has a 50-day simple moving average of $73.16 and a 200-day simple moving average of $75.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 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, July 28th. Shareholders of record on Friday, June 27th will be given a dividend of $0.1644 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 27th. This represents a $0.66 annualized dividend and a yield of 0.80%. Canadian Pacific Kansas City’s payout ratio is presently 21.28%.

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.