Natural Investments LLC lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 76.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,394 shares of the transportation company’s stock after selling 11,048 shares during the period. Natural Investments LLC’s holdings in Canadian Pacific Kansas City were worth $294,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at approximately $978,558,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $802,983,000. The Manufacturers Life Insurance Company purchased a new position in Canadian Pacific Kansas City in the second quarter valued at approximately $657,672,000. Legal & General Group Plc purchased a new position in Canadian Pacific Kansas City in the second quarter valued at approximately $604,797,000. Finally, Jupiter Topco LLC bought a new position in Canadian Pacific Kansas City during the second quarter valued at $576,687,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on CP shares. Susquehanna raised their target price on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a “positive” rating in a research report on Tuesday, July 14th. Citigroup upped their price target on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Citizens Jmp assumed coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Finally, Evercore set a $99.00 price objective on Canadian Pacific Kansas City in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.60.
Canadian Pacific Kansas City Stock Up 0.7%
Shares of NYSE CP opened at $89.56 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The company has a market cap of $78.66 billion, a P/E ratio of 28.80, a P/E/G ratio of 1.85 and a beta of 1.12. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The business has a 50-day simple moving average of $91.23 and a two-hundred day simple moving average of $86.91.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current fiscal year.
Canadian Pacific Kansas City Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a $0.268 dividend. The ex-dividend date is Friday, September 25th. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio is currently 25.08%.
Canadian Pacific Kansas City Company 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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