Canadian Pacific Kansas City Limited $CP is Addenda Capital Inc.'s 8th Largest Position

Key Points

• Addenda Capital Inc. increased its stake in Canadian Pacific Kansas City Limited by 5.3%, making it the company's 8th largest position with 882,991 shares valued at approximately $70 million.
• Canadian Pacific Kansas City announced a dividend increase to $0.1651 per share, up from $0.16, with an ex-dividend date of September 26th.
• Analysts have mixed views on the stock, with a range of ratings from Sell to Strong Buy, and an average target price of $91.88.

Addenda Capital Inc. grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 882,991 shares of the transportation company's stock after purchasing an additional 44,794 shares during the period. Canadian Pacific Kansas City makes up 3.1% of Addenda Capital Inc.'s investment portfolio, making the stock its 8th largest position. Addenda Capital Inc. owned 0.10% of Canadian Pacific Kansas City worth $69,995,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Canadian Pacific Kansas City by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock valued at $74,807,000 after purchasing an additional 31,508 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Canadian Pacific Kansas City by 70.0% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after purchasing an additional 2,467 shares in the last quarter. CX Institutional acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at about $61,000. Janney Montgomery Scott LLC raised its position in Canadian Pacific Kansas City by 28.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Canadian Pacific Kansas City by 1.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CP. Stephens raised their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Finally, 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 note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of $91.88.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $73.47 on Friday. The business has a fifty day simple moving average of $75.36 and a two-hundred day simple moving average of $76.33. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $66.63 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.06 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $86.56.

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

Canadian Pacific Kansas City Increases Dividend

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

Canadian Pacific Kansas City 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.

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