DAVENPORT & Co LLC Increases Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

DAVENPORT & Co LLC grew its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 737.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,813 shares of the transportation company's stock after purchasing an additional 39,462 shares during the quarter. DAVENPORT & Co LLC's holdings in Canadian Pacific Kansas City were worth $3,144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CP. Norges Bank purchased a new stake in Canadian Pacific Kansas City in the 4th quarter worth approximately $914,090,000. Causeway Capital Management LLC lifted its stake 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 worth $1,116,632,000 after acquiring an additional 6,687,770 shares during the period. Invesco Ltd. boosted its holdings in Canadian Pacific Kansas City by 25.7% in the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after acquiring an additional 2,177,604 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Canadian Pacific Kansas City by 44.2% in the first 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Canadian Pacific Kansas City by 11.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock valued at $899,805,000 after purchasing an additional 1,262,913 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 0.8%

Shares of NYSE:CP traded down $0.64 during trading on Friday, reaching $81.11. 1,085,094 shares of the stock traded hands, compared to its average volume of 2,812,993. The stock has a market cap of $74.74 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. The stock has a 50-day moving average of $78.96 and a two-hundred day moving average of $76.23. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. As a group, 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 firm also recently disclosed 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 annualized dividend and a yield of 0.81%. 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 (DPR) is presently 22.30%.

Analyst Ratings Changes

CP has been the topic of a number of research reports. Citigroup cut their target price on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, May 1st. Barclays decreased their target price on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen lowered Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Canadian Pacific Kansas City Company 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.