Bishop Rock Capital L.P. lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,846 shares of the transportation company’s stock after selling 1,880 shares during the quarter. Canadian Pacific Kansas City comprises about 7.5% of Bishop Rock Capital L.P.’s investment portfolio, making the stock its 3rd biggest holding. Bishop Rock Capital L.P.’s holdings in Canadian Pacific Kansas City were worth $4,833,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. Cetera Investment Advisers lifted its holdings in Canadian Pacific Kansas City by 3.4% in the 1st quarter. Cetera Investment Advisers now owns 16,828 shares of the transportation company’s stock valued at $1,389,000 after acquiring an additional 559 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Canadian Pacific Kansas City by 69.1% during the first quarter. Sequoia Financial Advisors LLC now owns 5,539 shares of the transportation company’s stock worth $457,000 after buying an additional 2,263 shares in the last quarter. Vanguard Group Inc. grew its position in Canadian Pacific Kansas City by 2.4% in the first quarter. Vanguard Group Inc. now owns 30,249,662 shares of the transportation company’s stock worth $2,496,807,000 after buying an additional 695,215 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Canadian Pacific Kansas City by 5.1% in the first quarter. Baird Financial Group Inc. now owns 49,524 shares of the transportation company’s stock valued at $4,087,000 after buying an additional 2,417 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Canadian Pacific Kansas City by 116.4% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,274 shares of the transportation company’s stock valued at $1,178,000 after acquiring an additional 7,678 shares during the last quarter. Institutional investors own 67.93% of the company’s stock.
Analysts Set New Price Targets
CP has been the topic of a number of recent research reports. Morgan Stanley began coverage on Canadian Pacific Kansas City in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $100.00 target price on the stock. StockNews.com began coverage on shares of Canadian Pacific Kansas City in a research note on Thursday, August 17th. They set a “hold” rating for the company. Argus upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Tuesday, May 16th. Susquehanna boosted their price target on shares of Canadian Pacific Kansas City from $95.00 to $98.00 and gave the company a “positive” rating in a report on Friday, July 28th. Finally, Credit Suisse Group raised their price objective on shares of Canadian Pacific Kansas City from $87.00 to $88.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.
Canadian Pacific Kansas City Price Performance
Shares of CP opened at $77.52 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.58 and a current ratio of 0.67. The firm has a market cap of $72.21 billion, a PE ratio of 22.53, a PEG ratio of 2.69 and a beta of 1.01. Canadian Pacific Kansas City Limited has a twelve month low of $65.17 and a twelve month high of $85.40. The firm’s 50 day moving average price is $79.98 and its 200 day moving average price is $78.78.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.07). The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.47 billion. Canadian Pacific Kansas City had a net margin of 41.92% and a return on equity of 8.92%. As a group, research analysts expect that Canadian Pacific Kansas City Limited will post 2.92 EPS for the current fiscal year.
Canadian Pacific Kansas City Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be paid a $0.1437 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 16.57%.
Canadian Pacific Kansas City Company Profile
Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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