1832 Asset Management L.P. Reduces Stock Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• 1832 Asset Management L.P. reduced its stake in Canadian Pacific Kansas City Limited by 1.8%, now holding approximately 14.7 million shares, which constitutes 0.9% of their investment portfolio.
• Multiple institutional investors, including Invesco Ltd. and Goldman Sachs Group Inc., significantly increased their holdings in Canadian Pacific Kansas City during the first quarter, showcasing strong interest from various hedge funds.
• Canadian Pacific Kansas City announced a quarterly dividend of $0.1651 per share, reflecting a positive increase from the previous dividend, with a yield of 0.9% and a payout ratio of 20.56%.

1832 Asset Management L.P. reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,724,877 shares of the transportation company's stock after selling 267,380 shares during the quarter. Canadian Pacific Kansas City comprises approximately 0.9% of 1832 Asset Management L.P.'s portfolio, making the stock its 10th biggest holding. 1832 Asset Management L.P. owned approximately 1.58% of Canadian Pacific Kansas City worth $1,033,834,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its stake in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $30,000. Bernard Wealth Management Corp. purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth approximately $31,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after acquiring an additional 164 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CP. Wall Street Zen raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Evercore ISI decreased their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Stephens lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Bank of America lifted their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Up 2.2%

Shares of CP stock traded up $1.6080 during mid-day trading on Friday, reaching $74.8380. 4,538,451 shares of the company's stock traded hands, compared to its average volume of 3,418,792. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The company has a market cap of $68.37 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.09 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $77.77 and its 200-day moving average price is $76.60.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the firm posted $1.05 EPS. The business's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share 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, October 27th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

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.