43,497 Shares in Canadian Pacific Kansas City Limited $CP Acquired by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 43,497 shares of Canadian Pacific Kansas City, valued at approximately $3.7 million. Institutional investors collectively own 72.2% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $111.83.
• Canadian Pacific Kansas City reported quarterly revenue of $2.93 billion and adjusted earnings of $0.92 per share, beating estimates, while declaring a quarterly dividend of C$0.27 per share.

Banque Pictet & Cie SA acquired a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,497 shares of the transportation company's stock, valued at approximately $3,713,000.

A number of other hedge funds also recently bought and sold shares of CP. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Canadian Pacific Kansas City in the second quarter worth approximately $802,983,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $657,672,000. Legal & General Group Plc purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $604,797,000. Jupiter Topco LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $576,687,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $542,469,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CP has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Canadian Pacific Kansas City from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 8th. Susquehanna cut their target price on shares of Canadian Pacific Kansas City from $106.00 to $98.00 and set a "positive" rating on the stock in a research note on Friday, October 2nd. Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a research note on Wednesday, July 8th. Barclays set a $102.00 target price on Canadian Pacific Kansas City and gave the company an "overweight" rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company raised their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $111.83.

Canadian Pacific Kansas City Price Performance

CP opened at $87.34 on Friday. The stock has a market cap of $76.43 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.84 and a beta of 1.13. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $89.56 and a 200 day moving average price of $87.85.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.68 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid a dividend of C$0.27 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 24.76%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates Canadian Pacific Kansas City (CPKC), a Class I freight railway. The company was created in 2023 through the combination of Canadian Pacific and Kansas City Southern, forming the first single-line railroad connecting Canada, the United States and Mexico.

CPKC transports a broad range of freight, including grain and fertilizers, coal, forest products, automotive goods, energy and chemicals, industrial and consumer products, and intermodal shipments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.