Canadian Pacific Kansas City Limited $CP Shares Purchased by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC increased its stake in Canadian Pacific Kansas City by 11.5%, making it the firm's largest holding at $1.2 billion.
• Canadian Pacific Kansas City reported quarterly earnings of $0.81 per share, missing estimates, while revenue was $2.72 billion, below expectations of $2.76 billion.
• The company plans to pay a quarterly dividend of $0.1651 per share, marking an increase from the previous dividend of $0.16.

Causeway Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,208,788 shares of the transportation company's stock after buying an additional 1,778,984 shares during the period. Canadian Pacific Kansas City accounts for about 25.2% of Causeway Capital Management LLC's holdings, making the stock its largest holding. Causeway Capital Management LLC owned about 1.85% of Canadian Pacific Kansas City worth $1,207,605,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after buying an additional 256 shares during the last quarter. North Capital Inc. acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $27,000. Cheviot Value Management LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $30,000. Bernard Wealth Management Corp. acquired a new position in Canadian Pacific Kansas City in the 4th quarter valued at about $31,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after purchasing an additional 164 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America boosted their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Barclays boosted their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group reiterated a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Finally, Susquehanna reiterated a "positive" rating and set a $94.00 target price (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Price Performance

CP stock traded down $0.04 on Friday, reaching $76.23. The company had a trading volume of 1,950,293 shares, compared to its average volume of 3,255,982. 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 $69.64 billion, a P/E ratio of 23.75, a PEG ratio of 2.13 and a beta of 1.06. The company's fifty day moving average is $77.30 and its 200 day moving average is $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 (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share 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 business 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 company earned $1.05 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. 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. Canadian Pacific Kansas City's dividend payout ratio is currently 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.