Fisher Funds Management LTD Has $22.44 Million Position in Canadian Pacific Kansas City Limited $CP

Fisher Funds Management LTD lessened its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 21.4% in the first quarter, HoldingsChannel.com reports. The fund owned 285,288 shares of the transportation company’s stock after selling 77,613 shares during the period. Fisher Funds Management LTD’s holdings in Canadian Pacific Kansas City were worth $22,441,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Prosperity Bancshares Inc bought a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $29,000. McMillan Office Inc. acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $31,000. Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth $35,000. Finally, Wealth Watch Advisors INC bought a new stake in Canadian Pacific Kansas City during the third quarter worth $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CP shares. Canadian Imperial Bank of Commerce set a $140.00 target price on Canadian Pacific Kansas City in a report on Tuesday, June 9th. Barclays set a $99.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, April 30th. Citigroup upped their price objective on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Friday, May 29th. Finally, Sanford C. Bernstein lifted their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Canadian Pacific Kansas City Trading Up 0.0%

Shares of CP stock opened at $86.06 on Monday. The stock has a market cap of $76.17 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.84 and a beta of 1.09. The stock has a 50-day moving average of $86.26 and a 200-day moving average of $80.79. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $91.52.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.Canadian Pacific Kansas City’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is currently 20.68%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.