Forsta AP Fonden Has $11.85 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Forsta AP Fonden sold 14,000 shares of Canadian Pacific Kansas City, reducing its holdings by 7.7% to 168,900 shares, valued at $11.85 million.
• Several hedge funds, including Causeway Capital Management and Goldman Sachs Group, significantly increased their stakes in the company, indicating strong institutional interest.
• Canadian Pacific Kansas City reported Q2 earnings of $0.81 per share, missing estimates by $0.01, and announced an increase in its quarterly dividend from $0.16 to $0.1651 per share.

Forsta AP Fonden decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,900 shares of the transportation company's stock after selling 14,000 shares during the quarter. Forsta AP Fonden's holdings in Canadian Pacific Kansas City were worth $11,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its stake in shares of Canadian Pacific Kansas City by 58.7% in the first quarter. Maryland State Retirement & Pension System now owns 87,498 shares of the transportation company's stock valued at $6,139,000 after purchasing an additional 32,355 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $721,000. Deutsche Bank AG increased its stake in shares of Canadian Pacific Kansas City by 3.1% in the first quarter. Deutsche Bank AG now owns 1,331,934 shares of the transportation company's stock valued at $93,515,000 after purchasing an additional 40,481 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Canadian Pacific Kansas City by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,185,195 shares of the transportation company's stock valued at $153,332,000 after purchasing an additional 54,581 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $1,389,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

NYSE:CP traded up $0.40 during trading hours on Tuesday, reaching $74.92. 2,632,369 shares of the company's stock were exchanged, compared to its average volume of 3,245,234. The company has a market capitalization of $68.45 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. 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 quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The business's 50-day simple moving average is $79.04 and its two-hundred day simple moving average is $76.85.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the business posted $1.05 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. 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. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.56%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of 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. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Royal Bank Of Canada decreased their price objective on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Stephens increased their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.