Canadian Pacific Kansas City Limited $CP Shares Bought by Sciencast Management LP

Key Points

• Sciencast Management LP significantly increased its holdings in Canadian Pacific Kansas City Limited by 143.9%, acquiring an additional 30,018 shares, bringing their total ownership to 50,879 shares valued at approximately $3.57 million.
• Research analysts have raised their price targets for Canadian Pacific Kansas City, with Bank of America setting a new target of $90.00 and Barclays raising it to $91.00, maintaining a positive outlook for the stock.
• The company announced an increase in its quarterly dividend to $0.1651 per share, reflecting a positive change from its previous dividend and signifying a 0.9% yield for investors.

Sciencast Management LP boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 143.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,879 shares of the transportation company's stock after buying an additional 30,018 shares during the period. Canadian Pacific Kansas City makes up 0.8% of Sciencast Management LP's holdings, making the stock its 20th largest position. Sciencast Management LP's holdings in Canadian Pacific Kansas City were worth $3,572,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Insight Partners LLC increased its position in Canadian Pacific Kansas City by 0.4% during the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock valued at $2,858,000 after buying an additional 143 shares in the last quarter. Davidson Trust Co. increased its position in Canadian Pacific Kansas City by 3.2% during the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after buying an additional 144 shares in the last quarter. Redmond Asset Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 0.5% in the first quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company's stock valued at $2,220,000 after purchasing an additional 148 shares during the period. Tradewinds LLC. increased its holdings in shares of Canadian Pacific Kansas City by 3.8% in the first quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after purchasing an additional 157 shares during the period. Finally, Financial Partners Group Inc increased its holdings in shares of Canadian Pacific Kansas City by 0.3% in the first quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company's stock valued at $3,464,000 after purchasing an additional 158 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CP shares. Bank of America increased their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 16th. Barclays increased their price objective on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group reissued 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 increased their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $76.64 on Monday. The company has a market capitalization of $69.50 billion, a P/E ratio of 23.87, a P/E/G ratio of 2.15 and a beta of 1.06. The business's 50 day moving average is $77.06 and its two-hundred day moving average is $76.46. 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 12-month low of $66.49 and a 12-month high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results 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). 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 during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the business earned $1.05 EPS. The business's revenue was up 2.7% compared to the same quarter last year. Analysts expect 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 announced 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 represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's payout ratio is presently 20.56%.

About Canadian Pacific Kansas City

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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