AlTi Global Inc. Raises Position in Canadian Pacific Kansas City Limited $CP

Key Points

• AlTi Global Inc. nearly doubled its stake in Canadian Pacific Kansas City during the first quarter, increasing holdings by 93.7% to 35,825 shares valued at about $2.82 million.
• Wall Street remains mostly bullish on CP, with several firms raising price targets and the stock holding a consensus rating of “Moderate Buy” with an average target price of $104.91.
• The company raised its quarterly dividend to $0.268 per share from $0.23, while its latest earnings missed estimates slightly on both EPS and revenue.

AlTi Global Inc. lifted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 93.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,825 shares of the transportation company's stock after acquiring an additional 17,333 shares during the quarter. AlTi Global Inc.'s holdings in Canadian Pacific Kansas City were worth $2,818,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Prosperity Bancshares Inc purchased a new stake in Canadian Pacific Kansas City in the 4th quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $29,000. McMillan Office Inc. acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $31,000. Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City during the first quarter worth $35,000. Finally, Wealth Watch Advisors INC purchased a new position in Canadian Pacific Kansas City in the third quarter worth $36,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CP shares. 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. Citigroup upped their target price on shares of Canadian Pacific Kansas City from $97.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce increased their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an "outperformer" rating in a report on Thursday, June 25th. Evercore set a $91.00 price target on Canadian Pacific Kansas City and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Finally, ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus target price of $104.91.

Canadian Pacific Kansas City Trading Down 0.0%

Shares of Canadian Pacific Kansas City stock opened at $93.70 on Monday. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $93.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The business has a 50 day moving average price of $88.24 and a 200 day moving average price of $82.83. The company has a market capitalization of $82.93 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.87 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. Canadian Pacific Kansas City's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.68 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be issued a $0.268 dividend. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a yield of 1.1%. Canadian Pacific Kansas City's payout ratio is currently 24.07%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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