Connor Clark & Lunn Investment Management Ltd. Has $254.92 Million Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Canadian Pacific Kansas City Limited by 14.9%, now holding 3,631,836 shares, which is approximately 1.1% of their portfolio.
• Canadian Pacific Kansas City recently announced an increase in its quarterly dividend, rising to $0.1651 per share, with a current annualized yield of 0.9%.
• The company reported earnings of $0.81 per share for the last quarter, missing estimates, with revenues of $2.72 billion, up 2.7% year-over-year.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 14.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,631,836 shares of the transportation company's stock after selling 635,818 shares during the period. Canadian Pacific Kansas City accounts for approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 20th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.39% of Canadian Pacific Kansas City worth $254,918,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. North Capital Inc. purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $27,000. Cornerstone Planning Group LLC boosted its position in shares of Canadian Pacific Kansas City by 209.8% in the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after buying an additional 256 shares during the period. Cheviot Value Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $30,000. Bernard Wealth Management Corp. purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $31,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Canadian Pacific Kansas City by 49.5% in the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after buying an additional 164 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CP has been the subject of a number of analyst reports. Wall Street Zen cut shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Evercore ISI lowered their price target on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Susquehanna restated a "positive" rating and set a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. Barclays raised their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus cut their price objective 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded up $0.40 during trading hours on Tuesday, hitting $74.92. 2,632,369 shares of the company's stock were exchanged, compared to its average volume of 3,245,234. 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 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market capitalization of $68.45 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.11 and a beta of 1.06. The company's 50-day moving average price is $79.04 and its 200-day moving average price is $76.85.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share 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 during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned $1.05 earnings per share. Canadian Pacific Kansas City's revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect 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 business 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 $0.1651 dividend. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. 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%. Canadian Pacific Kansas City's 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.