Canadian Pacific Kansas City Limited $CP Shares Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Canadian Pacific Kansas City Limited by 9.8% during the 1st quarter, owning 199,829 shares valued at approximately $14.03 million.
• Canadian Pacific Kansas City is experiencing positive market sentiment, with several analysts raising their price targets; Citigroup updated theirs from $89 to $94 and Bank of America from $82 to $90.
• The company announced a quarterly dividend increase, raising it to $0.1651 per share, marking a boost from the previous $0.16 with a current yield of 0.9%.

Woodline Partners LP grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,829 shares of the transportation company's stock after purchasing an additional 17,792 shares during the quarter. Woodline Partners LP's holdings in Canadian Pacific Kansas City were worth $14,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CP. Ethic Inc. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $203,000. Graham Capital Management L.P. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $530,000. Gotham Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $1,046,000. Janus Henderson Group PLC boosted its stake in shares of Canadian Pacific Kansas City by 1.7% in the fourth quarter. Janus Henderson Group PLC now owns 446,035 shares of the transportation company's stock valued at $32,291,000 after purchasing an additional 7,404 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Canadian Pacific Kansas City by 22.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,025 shares of the transportation company's stock valued at $74,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CP. Bank of America raised their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Citigroup lifted their price target on shares of 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. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Finally, Susquehanna reiterated a "positive" rating and issued a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Stock Down 0.3%

Shares of NYSE:CP opened at $74.48 on Thursday. The company has a market capitalization of $67.54 billion, a PE ratio of 23.20, a P/E/G ratio of 2.09 and a beta of 1.06. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. 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 50 day simple moving average of $76.74 and a 200-day simple moving average of $76.43.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS 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. Stockholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. The ex-dividend date 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 payout ratio is presently 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.

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