Arrowstreet Capital Limited Partnership Buys 197,574 Shares of Canadian Pacific Kansas City Limited $CP

Arrowstreet Capital Limited Partnership grew its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 866.2% in the second quarter, HoldingsChannel reports. The firm owned 220,383 shares of the transportation company’s stock after buying an additional 197,574 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Canadian Pacific Kansas City were worth $17,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Canadian Pacific Kansas City by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 38,223,823 shares of the transportation company’s stock valued at $3,036,558,000 after buying an additional 1,080,835 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Canadian Pacific Kansas City by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock valued at $1,665,106,000 after acquiring an additional 136,970 shares during the last quarter. Causeway Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 11.5% in the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after purchasing an additional 1,778,984 shares in the last quarter. Mackenzie Financial Corp increased its position in Canadian Pacific Kansas City by 0.9% in the second quarter. Mackenzie Financial Corp now owns 16,498,767 shares of the transportation company’s stock worth $1,311,512,000 after purchasing an additional 150,963 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Canadian Pacific Kansas City by 87.2% in the second quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock worth $1,268,325,000 after purchasing an additional 7,454,810 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CP. Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, October 13th. National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Susquehanna set a $87.00 price target on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Finally, Jefferies Financial Group set a $90.00 price objective on Canadian Pacific Kansas City in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average target price of $91.69.

Canadian Pacific Kansas City Trading Down 0.4%

NYSE CP opened at $73.66 on Monday. The stock has a market cap of $66.09 billion, a PE ratio of 22.46, a PEG ratio of 1.87 and a beta of 1.11. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $83.65. The company’s 50-day moving average price is $73.35 and its 200-day moving average price is $76.21. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.71 billion. Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. During the same quarter in the previous year, the business earned $0.99 EPS. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be issued a $0.228 dividend. The ex-dividend date is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.12%.

Canadian Pacific Kansas City 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.