Canadian Pacific Kansas City Limited $CP Shares Acquired by FORA Capital LLC

Key Points

• FORA Capital LLC increased its stake in Canadian Pacific Kansas City Limited by 106.0%, now owning 49,808 shares valued at approximately $3.5 million.
• The company reported earnings of $0.81 per share for the last quarter, slightly missing the expected $0.82, with revenues of $2.72 billion.
• Canadian Pacific Kansas City announced an increase in its quarterly dividend to $0.1651, with an annualized yield of 0.9%, set to be paid to shareholders of record.

FORA Capital LLC raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 106.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,808 shares of the transportation company's stock after acquiring an additional 25,631 shares during the quarter. FORA Capital LLC's holdings in Canadian Pacific Kansas City were worth $3,497,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CP. First Trust Advisors LP raised its holdings in shares of Canadian Pacific Kansas City by 29.9% during the fourth quarter. First Trust Advisors LP now owns 47,503 shares of the transportation company's stock valued at $3,438,000 after acquiring an additional 10,943 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Canadian Pacific Kansas City by 96.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 881,400 shares of the transportation company's stock valued at $63,780,000 after purchasing an additional 431,924 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Canadian Pacific Kansas City by 34.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,066 shares of the transportation company's stock worth $1,018,000 after acquiring an additional 3,634 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian Pacific Kansas City by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,707,319 shares of the transportation company's stock worth $848,794,000 after acquiring an additional 334,844 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Canadian Pacific Kansas City by 3.6% during the fourth quarter. Northern Trust Corp now owns 2,445,300 shares of the transportation company's stock worth $176,966,000 after acquiring an additional 85,381 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 0.1%

NYSE CP traded down $0.04 during trading on Friday, reaching $76.23. 1,950,293 shares of the company's stock were exchanged, compared to its average volume of 3,255,982. The company has a 50 day moving average price of $77.30 and a two-hundred day moving average price of $76.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The stock has a market cap of $69.64 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.13 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 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced 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. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CP shares. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Susquehanna reiterated a "positive" rating and issued a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Bank of America lifted their target price 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Finally, Citigroup lifted their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.30.

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.