Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,821,347 shares of the transportation company’s stock after acquiring an additional 723,188 shares during the quarter. Canadian Pacific Kansas City accounts for about 0.9% of 1832 Asset Management L.P.’s holdings, making the stock its 8th biggest position. 1832 Asset Management L.P.’s holdings in Canadian Pacific Kansas City were worth $1,088,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of CP. LRI Investments LLC acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at $32,000. Chris Bulman Inc acquired a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $35,000. ORG Partners LLC acquired a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $39,000. Tobam bought a new position in Canadian Pacific Kansas City during the 1st quarter valued at $51,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Canadian Pacific Kansas City during the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Susquehanna restated a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Barclays dropped their price objective on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Sanford C. Bernstein raised their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Stifel Nicolaus raised their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.36.

Canadian Pacific Kansas City Trading Down 1.2 %

Shares of Canadian Pacific Kansas City stock opened at $85.86 on Friday. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The stock’s 50-day simple moving average is $82.16 and its 200 day simple moving average is $82.53. The stock has a market capitalization of $80.11 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the business posted $0.62 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.31%.

About Canadian Pacific Kansas City

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.