LGT Group Foundation lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 114.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 63,456 shares of the transportation company’s stock after purchasing an additional 33,871 shares during the period. LGT Group Foundation’s holdings in Canadian Pacific Kansas City were worth $4,998,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Canadian Pacific Kansas City by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after acquiring an additional 588,701 shares during the last quarter. TD Asset Management Inc grew its holdings in Canadian Pacific Kansas City by 2.5% in the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after acquiring an additional 532,303 shares during the last quarter. Veritas Asset Management LLP grew its holdings in Canadian Pacific Kansas City by 1.8% in the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after acquiring an additional 243,210 shares during the last quarter. Norges Bank bought a new stake in Canadian Pacific Kansas City in the 4th quarter worth $979,890,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Canadian Pacific Kansas City by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock worth $948,585,000 after acquiring an additional 507,177 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Susquehanna reaffirmed a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Barclays cut their target price on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group cut their target price on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus lifted their target price on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.36.
Canadian Pacific Kansas City Stock Performance
Shares of CP stock opened at $84.65 on Tuesday. The company has a 50 day moving average price of $81.17 and a 200-day moving average price of $82.49. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The firm has a market capitalization of $79.00 billion, a PE ratio of 27.13, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current year.
Canadian Pacific Kansas City Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.1373 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.65%. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.
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.
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