Korea Investment CORP Lowers Stake in Canadian Pacific Kansas City Limited $CP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Korea Investment CORP lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 11.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 606,884 shares of the transportation company's stock after selling 78,740 shares during the period. Korea Investment CORP owned approximately 0.07% of Canadian Pacific Kansas City worth $42,584,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CP. Bank of New York Mellon Corp lifted its stake in shares of Canadian Pacific Kansas City by 3.0% in the first 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 during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Canadian Pacific Kansas City by 70.0% in the first 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 during the period. CX Institutional acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at about $61,000. Janney Montgomery Scott LLC lifted its stake in shares of Canadian Pacific Kansas City by 28.8% in the first 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 during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Canadian Pacific Kansas City by 1.0% in the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Barclays raised their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Evercore ISI reduced their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday. One 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Price Performance

NYSE:CP traded up $1.6080 during mid-day trading on Friday, hitting $74.8380. 4,538,451 shares of the company's stock traded hands, compared to its average volume of 3,418,792. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The firm's 50 day simple moving average is $77.77 and its 200 day simple moving average is $76.60. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The company has a market cap of $68.37 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted 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 business had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the business posted $1.05 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

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