Successful Portfolios LLC Purchases New Position in Canadian Pacific Kansas City Limited $CP

Successful Portfolios LLC purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,809 shares of the transportation company’s stock, valued at approximately $223,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Canadian Pacific Kansas City by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company’s stock worth $74,807,000 after buying an additional 31,508 shares during the period. Concurrent Investment Advisors LLC boosted its position in Canadian Pacific Kansas City by 70.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company’s stock worth $421,000 after buying an additional 2,467 shares during the period. CX Institutional acquired a new stake in Canadian Pacific Kansas City during the 1st quarter worth approximately $61,000. Janney Montgomery Scott LLC boosted its position in Canadian Pacific Kansas City by 28.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company’s stock worth $7,106,000 after buying an additional 22,606 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Canadian Pacific Kansas City by 1.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company’s stock worth $2,012,000 after buying an additional 290 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stephens lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Susquehanna cut their target price on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating on the stock in a research report on Thursday, September 25th. National Bankshares reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average price target of $91.80.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $77.60 on Friday. The company has a fifty day moving average of $75.16 and a 200-day moving average of $76.35. The firm has a market capitalization of $70.38 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.13 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.56%.

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.