Sone Capital Management LLC acquired a new position in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 95,383 shares of the transportation company’s stock, valued at approximately $8,269,000.
A number of other hedge funds have also made changes to their positions in CP. Saranac Partners Ltd purchased a new position in Canadian Pacific Kansas City in the second quarter valued at about $6,773,000. HighTower Advisors LLC boosted its position in shares of Canadian Pacific Kansas City by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company’s stock worth $46,434,000 after buying an additional 37,044 shares during the period. Jennison Associates LLC purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $1,983,000. WGI DM LLC grew its stake in shares of Canadian Pacific Kansas City by 3.9% in the fourth quarter. WGI DM LLC now owns 437,824 shares of the transportation company’s stock valued at $32,237,000 after buying an additional 16,282 shares in the last quarter. Finally, Rathbones Group PLC grew its stake in shares of Canadian Pacific Kansas City by 5.9% in the fourth quarter. Rathbones Group PLC now owns 1,729,339 shares of the transportation company’s stock valued at $127,342,000 after buying an additional 95,727 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Canadian Pacific Kansas City Stock Down 2.1%
Shares of NYSE CP opened at $94.69 on Tuesday. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90. The firm has a market cap of $83.17 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The stock’s 50-day simple moving average is $90.32 and its 200-day simple moving average is $86.36.
Canadian Pacific Kansas City Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be given a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio is presently 25.08%.
Analyst Ratings Changes
Several brokerages recently commented on CP. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 target price (up from $139.00) on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 16th. Citigroup lifted their price objective on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Evercore set a $99.00 target price on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.
Read Our Latest Research Report on CP
Canadian Pacific Kansas City Profile
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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