Canadian Pacific Kansas City Limited (NYSE:CP) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC grew its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 103.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,104 shares of the transportation company's stock after acquiring an additional 4,118 shares during the quarter. Merit Financial Group LLC's holdings in Canadian Pacific Kansas City were worth $569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter worth about $2,602,000. Phraction Management LLC boosted its position in Canadian Pacific Kansas City by 53.6% in the fourth quarter. Phraction Management LLC now owns 13,306 shares of the transportation company's stock valued at $963,000 after buying an additional 4,641 shares during the last quarter. Gallo Partners LP acquired a new position in Canadian Pacific Kansas City in the 4th quarter worth approximately $4,373,000. LPL Financial LLC increased its holdings in Canadian Pacific Kansas City by 34.4% in the 4th quarter. LPL Financial LLC now owns 258,075 shares of the transportation company's stock worth $18,677,000 after buying an additional 66,125 shares during the period. Finally, Quilter Plc raised its position in Canadian Pacific Kansas City by 10.9% during the 4th quarter. Quilter Plc now owns 1,203,968 shares of the transportation company's stock worth $87,062,000 after buying an additional 118,753 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP traded down $0.76 during trading hours on Friday, hitting $80.39. 2,026,605 shares of the stock were exchanged, compared to its average volume of 2,799,497. The stock's 50-day moving average price is $76.72 and its two-hundred day moving average price is $75.77. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market cap of $74.80 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a dividend of $0.1644 per share. This represents a $0.66 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's dividend payout ratio is currently 22.30%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CP. The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Jefferies Financial Group decreased their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays dropped their target price on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada reduced their price target on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.66.

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.