Cidel Asset Management Inc. Grows Stake in Canadian Pacific Kansas City Limited $CP

Cidel Asset Management Inc. lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 249.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 398,325 shares of the transportation company’s stock after purchasing an additional 284,461 shares during the quarter. Canadian Pacific Kansas City comprises approximately 1.7% of Cidel Asset Management Inc.’s portfolio, making the stock its 15th largest holding. Cidel Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $31,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prosperity Bancshares Inc purchased a new position in Canadian Pacific Kansas City during the fourth quarter worth about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $29,000. McMillan Office Inc. bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $31,000. Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the first quarter worth about $35,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Canadian Pacific Kansas City during the third quarter worth about $36,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Down 0.4%

Shares of NYSE CP opened at $85.31 on Wednesday. The stock has a market capitalization of $75.50 billion, a P/E ratio of 26.33, a PEG ratio of 1.83 and a beta of 1.09. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $91.52. The firm’s 50 day simple moving average is $86.44 and its two-hundred day simple moving average is $80.96. 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 (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.70 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, June 26th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CP shares. Canadian Imperial Bank of Commerce set a $140.00 target price on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 9th. Sanford C. Bernstein raised their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday, May 29th. Susquehanna reiterated a “positive” rating and issued a $104.00 target price on shares of Canadian Pacific Kansas City in a research report on Friday, June 5th. Finally, Citigroup raised their price target on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Canadian Pacific Kansas City 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.