Woodline Partners LP Grows Holdings in Canadian Pacific Kansas City Limited $CP

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 raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,829 shares of the transportation company's stock after acquiring an additional 17,792 shares during the quarter. Woodline Partners LP's holdings in Canadian Pacific Kansas City were worth $14,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ethic Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at $203,000. Graham Capital Management L.P. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter worth about $530,000. Gotham Asset Management LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter worth about $1,046,000. Janus Henderson Group PLC increased its position in 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 worth $32,291,000 after purchasing an additional 7,404 shares during the period. Finally, Lazard Asset Management LLC increased its position in 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 worth $74,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CP. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Stephens raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Citigroup upped their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Price Performance

Shares of CP traded up $0.37 during midday trading on Tuesday, hitting $76.30. 642,382 shares of the company traded hands, compared to its average volume of 3,157,592. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72. The firm has a market cap of $69.19 billion, a P/E ratio of 23.76, a PEG ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a 50-day moving average of $76.44 and a 200-day moving average of $76.39.

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 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the prior year, the firm posted $1.05 EPS. Canadian Pacific Kansas City's revenue was up 2.7% on a year-over-year basis. As a group, sell-side 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 firm 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 positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. 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.