Alpha Cubed Investments LLC Buys New Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Alpha Cubed Investments LLC bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,373 shares of the transportation company's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CP. Smartleaf Asset Management LLC grew its position in Canadian Pacific Kansas City by 18.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 839 shares of the transportation company's stock worth $60,000 after purchasing an additional 133 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $2,602,000. Raymond James Financial Inc. bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at about $74,168,000. Larson Financial Group LLC grew its holdings in Canadian Pacific Kansas City by 7.9% during the 4th quarter. Larson Financial Group LLC now owns 2,716 shares of the transportation company's stock worth $197,000 after acquiring an additional 198 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Canadian Pacific Kansas City by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 332,974 shares of the transportation company's stock valued at $24,097,000 after buying an additional 7,285 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup raised 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. Barclays lifted their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday. Bank of America upped their target price on 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. Finally, Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.95.

Canadian Pacific Kansas City Price Performance

NYSE:CP traded down $0.99 during mid-day trading on Friday, hitting $81.42. 716,191 shares of the company's stock traded hands, compared to its average volume of 2,806,116. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The firm's 50 day simple moving average is $79.84 and its 200 day simple moving average is $76.52. The company has a market cap of $75.02 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a net margin of 25.99% and a return on equity of 8.68%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.1644 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's dividend payout ratio is 22.30%.

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.