Ramirez Asset Management Inc. Boosts Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Ramirez Asset Management Inc. increased its stake in Canadian Pacific Kansas City Limited by 43.3%, owning 41,241 shares worth approximately $2.9 million as of the latest SEC filing.
• The company reported earnings per share of $0.74 for the last quarter, matching analyst estimates, with revenue up 8.0% year-over-year, reaching $2.66 billion.
• Canadian Pacific Kansas City declared a quarterly dividend of $0.1644, indicating a 0.87% dividend yield, which was an increase from the previous dividend of $0.13.

Ramirez Asset Management Inc. raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 43.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,241 shares of the transportation company's stock after buying an additional 12,463 shares during the period. Ramirez Asset Management Inc.'s holdings in Canadian Pacific Kansas City were worth $2,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CP. North Capital Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC boosted its holdings in shares of Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after acquiring an additional 164 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Canadian Pacific Kansas City during the 1st quarter worth $42,000. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 0.4%

Shares of CP stock traded down $0.33 on Friday, hitting $73.23. The stock had a trading volume of 2,151,316 shares, compared to its average volume of 3,223,229. The business has a 50 day moving average of $79.88 and a 200 day moving average of $76.93. The stock has a market cap of $67.22 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.81 and a quick ratio of 0.70. 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 posted its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.68%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the company posted $0.93 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS 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. Investors of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio is currently 20.56%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Evercore ISI reduced their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus cut their target price on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

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.