Baird Financial Group Inc. Has $31.97 Million Stock Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Baird Financial Group Inc. increased its stake in Canadian Pacific Kansas City Limited by 386.8% during the first quarter, acquiring an additional 361,798 shares and bringing its total holdings to 455,330 shares worth approximately $31.97 million.
• Canadian Pacific Kansas City recently announced a dividend increase to $0.1651 per share, representing a 0.9% dividend yield, with the new dividend scheduled for payment on October 27th.
• Despite missing analyst earnings expectations for the last quarter, the company reported a year-over-year revenue increase of 2.7% and has a consensus rating of "Moderate Buy" from analysts.

Baird Financial Group Inc. increased its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 386.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 455,330 shares of the transportation company's stock after purchasing an additional 361,798 shares during the period. Baird Financial Group Inc.'s holdings in Canadian Pacific Kansas City were worth $31,969,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after purchasing an additional 364,515 shares during the last quarter. TD Asset Management Inc increased its position in Canadian Pacific Kansas City by 0.5% in the 1st quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock valued at $1,464,094,000 after acquiring an additional 104,077 shares during the period. Causeway Capital Management LLC increased its position in Canadian Pacific Kansas City by 11.5% in the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock valued at $1,207,605,000 after acquiring an additional 1,778,984 shares during the period. Invesco Ltd. increased its position in Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock valued at $1,192,471,000 after acquiring an additional 6,337,312 shares during the period. Finally, Mackenzie Financial Corp increased its position in Canadian Pacific Kansas City by 6.5% in the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock valued at $1,147,220,000 after acquiring an additional 999,522 shares during the period. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CP shares. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. The Goldman Sachs Group restated a "neutral" rating and issued a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Susquehanna restated a "positive" rating and issued a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Finally, Stephens raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $0.12 during mid-day trading on Friday, hitting $76.64. 2,393,127 shares of the stock traded hands, compared to its average volume of 2,743,303. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The firm has a market cap of $70.02 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.06. The company's 50-day simple moving average is $77.06 and its 200-day simple moving average is $76.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio is 20.56%.

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.