Coronation Fund Managers Ltd. Increases Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Coronation Fund Managers Ltd. increased its holdings in Canadian Pacific Kansas City Limited by 2.7%, owning 192,620 shares worth approximately $13.52 million.
• Analysts have raised their target prices for Canadian Pacific Kansas City, with Citigroup setting a new price target of $94.00 and multiple analysts rating it as a "buy" or "overweight."
• Canadian Pacific Kansas City recently announced a quarterly dividend increase to $0.1651 per share, raising the annual yield to 0.9% and highlighting a payout ratio of 20.56%.

Coronation Fund Managers Ltd. increased its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,620 shares of the transportation company's stock after buying an additional 5,155 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Canadian Pacific Kansas City were worth $13,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Causeway Capital Management LLC raised its position in Canadian Pacific Kansas City by 76.5% in the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Invesco Ltd. boosted its position in Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock valued at $1,192,471,000 after buying an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 70.4% during the first quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock valued at $652,936,000 after buying an additional 3,842,866 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $126,928,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Canadian Pacific Kansas City by 44.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock valued at $351,723,000 after acquiring an additional 1,516,684 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

CP has been the subject of several analyst reports. Wall Street Zen lowered Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Evercore ISI decreased their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reiterated a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Finally, Barclays raised their price target on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Down 2.7%

Shares of CP traded down $2.01 on Thursday, reaching $73.62. The stock had a trading volume of 1,603,144 shares, compared to its average volume of 3,227,582. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The firm has a market capitalization of $67.26 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a 50-day simple moving average of $78.77 and a 200-day simple moving average of $76.83.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City's payout ratio is 20.25%.

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.