Canoe Financial LP Grows Stock Holdings in Canadian Pacific Kansas City Limited $CP

Canoe Financial LP boosted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 45,389.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,032,478 shares of the transportation company’s stock after acquiring an additional 2,028,010 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 2.2% of Canoe Financial LP’s investment portfolio, making the stock its 16th biggest position. Canoe Financial LP owned 0.23% of Canadian Pacific Kansas City worth $159,885,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Prosperity Bancshares Inc acquired a new position in Canadian Pacific Kansas City during the 4th quarter worth $26,000. Gilpin Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter worth $29,000. McMillan Office Inc. acquired a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth about $31,000. Wealth Watch Advisors INC purchased a new stake in Canadian Pacific Kansas City in the third quarter valued at approximately $36,000. Finally, Acadian Asset Management LLC purchased a new stake in Canadian Pacific Kansas City in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $87.81 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $91.52. The business’s 50-day simple moving average is $86.74 and its 200-day simple moving average is $81.23. The firm has a market capitalization of $77.71 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.88 and a beta of 1.09.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be issued a $0.268 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 24.07%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CP. Susquehanna reaffirmed a “positive” rating and set a $104.00 price objective on shares of Canadian Pacific Kansas City in a research report on Friday, June 5th. Evercore set a $91.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday. Scotiabank cut shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Barclays set a $102.00 price objective on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.30.

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.