Aberdeen Group plc Has $62.36 Million Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Aberdeen Group plc reduced its stake in Canadian Pacific Kansas City Limited by 18.7%, owning approximately 891,895 shares after selling 205,719 shares in Q1.
• Canadian Pacific Kansas City recently increased its quarterly dividend to $0.1651, marking a boost from the previous $0.16 and representing an annualized dividend yield of 0.9%.
• Bank of America raised its price target on Canadian Pacific Kansas City from $82.00 to $90.00 and rated the stock a "buy," contributing to a consensus rating of "Moderate Buy" with an average price target of $92.30.

Aberdeen Group plc reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,895 shares of the transportation company's stock after selling 205,719 shares during the period. Aberdeen Group plc owned approximately 0.10% of Canadian Pacific Kansas City worth $62,361,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Fox Run Management L.L.C. acquired a new stake in Canadian Pacific Kansas City during the 1st quarter valued at $570,000. Kovitz Investment Group Partners LLC boosted its holdings in Canadian Pacific Kansas City by 6.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 14,970 shares of the transportation company's stock valued at $1,051,000 after purchasing an additional 904 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in shares of Canadian Pacific Kansas City by 41.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 32,183 shares of the transportation company's stock worth $2,260,000 after buying an additional 9,482 shares during the last quarter. Boston Partners acquired a new stake in Canadian Pacific Kansas City in the first quarter valued at $2,128,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Canadian Pacific Kansas City in the first quarter valued at about $59,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CP shares. Evercore ISI dropped their price target 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. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Citigroup increased their price objective on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. 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 research note on Friday, May 16th. Finally, Susquehanna reiterated a "positive" rating and set a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Down 0.7%

Shares of Canadian Pacific Kansas City stock traded down $0.5070 during midday trading on Thursday, hitting $73.7830. The company's stock had a trading volume of 1,066,411 shares, compared to its average volume of 3,202,117. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The firm has a market capitalization of $67.41 billion, a P/E ratio of 22.98, a PEG ratio of 2.10 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $78.04 and a 200-day simple moving average of $76.65.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $1.05 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 yield of 0.9%. This is a positive change 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 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.