Bank of New York Mellon Corp boosted its stake in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,065,476 shares of the transportation company’s stock after buying an additional 31,508 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.11% of Canadian Pacific Kansas City worth $74,807,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CP. North Capital Inc. acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $31,000. Millstone Evans Group LLC acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $36,000. Curio Wealth LLC acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $39,000. Finally, Curat Global LLC acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at about $42,000. 72.20% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CP has been the subject of a number of recent analyst reports. Susquehanna restated a “positive” rating and set a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Royal Bank Of Canada cut their price target 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. Evercore ISI cut their price target 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. Barclays raised their price target on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup raised their price target on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus price target of $91.95.
Check Out Our Latest Research Report on Canadian Pacific Kansas City
Canadian Pacific Kansas City Stock Performance
Shares of CP stock opened at $82.43 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. The stock has a market capitalization of $75.95 billion, a PE ratio of 27.85, a P/E/G ratio of 2.28 and a beta of 1.07. The firm has a 50 day moving average of $79.84 and a two-hundred day moving average of $76.52.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a net margin of 25.99% and a return on equity of 8.68%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.
Canadian Pacific Kansas City Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a dividend of $0.1644 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City’s payout ratio is 22.30%.
About Canadian Pacific Kansas City
(Free Report)
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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