Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Canadian Pacific Kansas City Limited $CP

Key Points

• Empirical Wealth Management acquired approximately 61,423 shares of Canadian Pacific Kansas City Limited, valued at about $4.87 million, during the second quarter.
• Canadian Pacific Kansas City has seen recent upgrades in analyst ratings, with Citigroup raising the target price from $89 to $94 and a consensus rating of "Moderate Buy" with an average target price of $91.80.
• The company announced an increase in its quarterly dividend to $0.1651 per share, with the dividend yield at 0.9%, affecting stockholders of record as of September 26th.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 61,423 shares of the transportation company's stock, valued at approximately $4,869,000.

Several other hedge funds have also added to or reduced their stakes in CP. North Capital Inc. purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $27,000. Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 256 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $30,000. Hexagon Capital Partners LLC increased its stake 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 purchasing an additional 164 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $35,000. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

CP has been the subject of several recent research reports. Citigroup lifted their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday. National Bankshares reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Finally, Susquehanna dropped their price objective on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.80.

Canadian Pacific Kansas City Trading Up 1.3%

CP stock opened at $75.84 on Friday. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $83.65. The company has a market capitalization of $68.78 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company's 50 day moving average price is $75.14 and its two-hundred day moving average price is $76.32. 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 (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) 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 business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the company posted $1.05 EPS. Canadian Pacific Kansas City's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a $0.1651 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

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.

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