Cidel Asset Management Inc. Raises Holdings in Canadian Pacific Kansas City Limited $CP

Cidel Asset Management Inc. increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 249.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,325 shares of the transportation company’s stock after acquiring an additional 284,461 shares during the quarter. Canadian Pacific Kansas City makes up 1.7% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Cidel Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $31,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Prosperity Bancshares Inc bought a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth approximately $29,000. McMillan Office Inc. bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth approximately $31,000. Wealth Watch Advisors INC purchased a new position in shares of Canadian Pacific Kansas City in the third quarter worth $36,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $85.31 on Wednesday. The business has a 50 day moving average of $86.44 and a 200 day moving average of $80.96. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $91.52. The company has a market cap of $75.50 billion, a PE ratio of 26.33, a P/E/G ratio of 1.83 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be given a $0.268 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 annualized dividend and a dividend yield of 1.3%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio is 23.77%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CP shares. Royal Bank Of Canada dropped their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Argus set a $105.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday, May 29th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Sanford C. Bernstein raised their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Check Out Our Latest Research Report on CP

About Canadian Pacific Kansas City

(Free Report)

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.

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