Tema Etfs LLC Buys New Shares in Canadian Pacific Kansas City Limited (NYSE:CP)

Tema Etfs LLC bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,911 shares of the transportation company’s stock, valued at approximately $500,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Canadian Pacific Kansas City during the fourth quarter worth about $914,090,000. Causeway Capital Management LLC lifted its stake in Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company’s stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after purchasing an additional 2,532,519 shares during the period. Invesco Ltd. lifted its stake in Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company’s stock worth $770,526,000 after purchasing an additional 2,177,604 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Canadian Pacific Kansas City by 11.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company’s stock worth $899,805,000 after purchasing an additional 1,262,913 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The firm has a market cap of $75.92 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.00 and a beta of 1.09. The firm has a 50 day simple moving average of $73.33 and a 200 day simple moving average of $75.13. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Canadian Pacific Kansas City’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. Sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. Canadian Pacific Kansas City’s payout ratio is currently 21.28%.

Analyst Upgrades and Downgrades

CP has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Susquehanna raised their price objective on shares of Canadian Pacific Kansas City from $88.00 to $90.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, January 30th. Stephens raised their price objective on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Evercore ISI dropped their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $90.63.

About Canadian Pacific Kansas City

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.