Bank of Montreal Can Buys 533,792 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bank of Montreal Can lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,932,768 shares of the transportation company’s stock after purchasing an additional 533,792 shares during the quarter. Canadian Pacific Kansas City comprises about 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 22nd biggest position. Bank of Montreal Can’s holdings in Canadian Pacific Kansas City were worth $1,580,556,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Delta Investment Management LLC grew its stake in shares of Canadian Pacific Kansas City by 3.2% in the 1st quarter. Delta Investment Management LLC now owns 4,117 shares of the transportation company’s stock worth $363,000 after buying an additional 126 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in Canadian Pacific Kansas City by 3.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock worth $355,000 after acquiring an additional 131 shares in the last quarter. GAMMA Investing LLC increased its stake in Canadian Pacific Kansas City by 12.1% during the first quarter. GAMMA Investing LLC now owns 1,229 shares of the transportation company’s stock worth $108,000 after acquiring an additional 133 shares during the last quarter. Commerce Bank raised its position in Canadian Pacific Kansas City by 0.3% during the fourth quarter. Commerce Bank now owns 55,566 shares of the transportation company’s stock valued at $4,393,000 after purchasing an additional 144 shares during the period. Finally, Accretive Wealth Partners LLC lifted its stake in shares of Canadian Pacific Kansas City by 1.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock valued at $753,000 after purchasing an additional 145 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $85.86 on Monday. The stock has a market capitalization of $80.11 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The stock has a fifty day simple moving average of $82.16 and a two-hundred day simple moving average of $82.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

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

Analyst Ratings Changes

CP has been the topic of several analyst reports. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Jefferies Financial Group dropped their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company assumed coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 target price on the stock. Barclays dropped their price target on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, Susquehanna reissued a “neutral” rating and issued a $80.00 price objective on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.36.

Canadian Pacific Kansas City Company 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.