JCIC Asset Management Inc. Acquires 3,055 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

JCIC Asset Management Inc. raised its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,124 shares of the transportation company’s stock after acquiring an additional 3,055 shares during the quarter. Canadian Pacific Kansas City makes up 2.4% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. JCIC Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $5,741,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CP. Grove Bank & Trust grew its stake in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the period. LRI Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth about $32,000. Chris Bulman Inc bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth about $35,000. Asset Dedication LLC purchased a new position in Canadian Pacific Kansas City during the 3rd quarter valued at about $38,000. Finally, ORG Partners LLC bought a new stake in Canadian Pacific Kansas City during the second quarter worth about $39,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $78.81 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The company has a market cap of $73.53 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The stock’s fifty day moving average price is $82.92 and its 200-day moving average price is $81.50.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.71%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CP. Citigroup initiated coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Stifel Nicolaus lowered their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Jefferies Financial Group cut their target price on 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. Barclays lifted their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average target price of $97.90.

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.