Canadian Pacific Kansas City Limited $CP Shares Acquired by State Street Corp

Key Points

• State Street increased its Canadian Pacific Kansas City stake by 14.5% in the second quarter, acquiring 64,170 additional shares for a total holding of 505,266 shares valued at approximately $43.9 million. Institutional investors collectively own 72.2% of the company.
• Canadian Pacific Kansas City reported quarterly revenue of $2.93 billion, up 12.6% year over year, and adjusted earnings of $0.92 per share, exceeding analysts’ $0.89 estimate.
• The company declared a quarterly dividend of C$0.27 per share, equivalent to an annualized yield of about 1.2%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $108.60, versus a recent share price of $87.34.

State Street Corp increased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 505,266 shares of the transportation company's stock after acquiring an additional 64,170 shares during the quarter. State Street Corp owned approximately 0.06% of Canadian Pacific Kansas City worth $43,873,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CP. GAMMA Investing LLC boosted its position in Canadian Pacific Kansas City by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company's stock valued at $304,000 after purchasing an additional 130 shares during the period. First Eagle Investment Management LLC increased its position in Canadian Pacific Kansas City by 4.0% in the second quarter. First Eagle Investment Management LLC now owns 3,516 shares of the transportation company's stock worth $305,000 after buying an additional 134 shares during the period. Foster Group Inc. increased its position in Canadian Pacific Kansas City by 3.3% in the second quarter. Foster Group Inc. now owns 4,279 shares of the transportation company's stock worth $371,000 after buying an additional 137 shares during the period. Modern Wealth Management LLC lifted its stake in Canadian Pacific Kansas City by 1.2% in the first quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company's stock valued at $950,000 after buying an additional 142 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its stake in Canadian Pacific Kansas City by 1.2% in the first quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company's stock valued at $926,000 after buying an additional 144 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $87.34 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The company has a market capitalization of $76.72 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.83 and a beta of 1.12. The stock has a fifty day moving average of $91.32 and a 200-day moving average of $87.33. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Canadian Pacific Kansas City's revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.72 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a dividend of C$0.27 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio is currently 25.08%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Canadian Pacific Kansas City from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 8th. Citizens Jmp assumed coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 16th. Citigroup lifted their price target on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Susquehanna boosted their price objective on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a "positive" rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $108.60.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.

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