Allspring Global Investments Holdings LLC Has $469.48 Million Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Allspring Global Investments Holdings LLC increased its position in Canadian Pacific Kansas City by 17.9%, holding approximately $469.48 million worth of shares, making it the firm's 14th largest holding.
• Several institutional investors have also recently modified their stakes in Canadian Pacific, with about 72.20% of the stock owned by institutional investors and hedge funds.
• Analysts have mixed views on the stock, with price targets ranging from $90.00 to $94.00 following a recent downgrade, resulting in an average rating of "Moderate Buy."

Allspring Global Investments Holdings LLC increased its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 17.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,834,890 shares of the transportation company's stock after purchasing an additional 884,537 shares during the quarter. Canadian Pacific Kansas City makes up 0.8% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 14th largest holding. Allspring Global Investments Holdings LLC owned approximately 0.64% of Canadian Pacific Kansas City worth $469,475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CP. North Capital Inc. acquired a new stake in Canadian Pacific Kansas City in the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its holdings in Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in Canadian Pacific Kansas City in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its position in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after buying an additional 164 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City in the 1st quarter worth approximately $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CP has been the topic of several recent analyst reports. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Barclays set a $90.00 price target on Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Citigroup lifted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.85.

Canadian Pacific Kansas City Stock Performance

CP opened at $74.90 on Monday. The stock has a market cap of $67.93 billion, a PE ratio of 23.33, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65. The stock's 50 day simple moving average is $75.34 and its 200-day simple moving average is $76.53.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.