Canadian Pacific Kansas City Limited (NYSE:CP) Sees Significant Increase in Short Interest

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 12,490,000 shares, an increase of 33.6% from the September 15th total of 9,350,000 shares. Based on an average daily trading volume, of 1,930,000 shares, the days-to-cover ratio is currently 6.5 days.

Institutional Trading of Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently made changes to their positions in CP. Choate Investment Advisors grew its holdings in Canadian Pacific Kansas City by 24.2% during the first quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after acquiring an additional 14,037 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth $11,810,000. Blue Zone Wealth Advisors LLC purchased a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $4,160,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Canadian Pacific Kansas City by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,229,212 shares of the transportation company’s stock valued at $196,672,000 after purchasing an additional 13,727 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in Canadian Pacific Kansas City by 53.0% during the first quarter. Maryland State Retirement & Pension System now owns 49,072 shares of the transportation company’s stock worth $4,100,000 after buying an additional 16,995 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CP has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday. Barclays raised their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Citigroup initiated coverage on Canadian Pacific Kansas City in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Sanford C. Bernstein cut their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.90.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $0.52 during mid-day trading on Tuesday, hitting $81.37. 1,595,654 shares of the company’s stock were exchanged, compared to its average volume of 2,103,554. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The business’s 50 day moving average is $82.64 and its two-hundred day moving average is $81.77. The firm has a market capitalization of $75.92 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts expect that Canadian Pacific Kansas City will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

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.