Millennium Management LLC Boosts Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Millennium Management LLC boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 432.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 411,623 shares of the transportation company's stock after acquiring an additional 334,365 shares during the quarter. Millennium Management LLC's holdings in Canadian Pacific Kansas City were worth $29,789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Canadian Pacific Kansas City by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company's stock valued at $2,662,978,000 after acquiring an additional 491,966 shares during the period. Causeway Capital Management LLC raised its position in Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Norges Bank purchased a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $914,090,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Canadian Pacific Kansas City by 11.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after purchasing an additional 1,262,913 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Canadian Pacific Kansas City by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,707,319 shares of the transportation company's stock worth $848,794,000 after buying an additional 334,844 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 0.8%

Shares of NYSE:CP traded down $0.66 during trading hours on Thursday, reaching $80.36. The stock had a trading volume of 2,535,569 shares, compared to its average volume of 2,813,573. The stock has a market capitalization of $74.77 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.00 and a beta of 1.09. The firm's 50 day moving average is $73.78 and its 200-day moving average is $75.24. 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 debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. Canadian Pacific Kansas City's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a $0.1644 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.82%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio is 21.28%.

Analyst Upgrades and Downgrades

CP has been the topic of several research analyst reports. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Susquehanna boosted their price target on shares of Canadian Pacific Kansas City from $88.00 to $90.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Argus set a $90.00 price objective on shares of Canadian Pacific Kansas City in a report on Wednesday, March 26th. Finally, Barclays reduced their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.63.

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.