Canadian Pacific Kansas City Limited (NYSE:CP) Shares Bought by Forge First Asset Management Inc.

Key Points

• Forge First Asset Management Inc. increased its stake in Canadian Pacific Kansas City Limited by 16.6%, owning 315,911 shares, making it the company's second largest holding with a value of approximately $22.2 million.
• Analysts have generally issued positive ratings for Canadian Pacific Kansas City, with the stock receiving several buy ratings and a consensus target price of $92.30, despite mixed price target adjustments.
• The company announced an increase in its quarterly dividend to $0.1651 per share, with a current dividend yield of 0.9%, reflecting a growth from the previous $0.16 dividend.

Forge First Asset Management Inc. raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 16.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,911 shares of the transportation company's stock after purchasing an additional 44,911 shares during the period. Canadian Pacific Kansas City accounts for approximately 9.5% of Forge First Asset Management Inc.'s holdings, making the stock its 2nd biggest position. Forge First Asset Management Inc.'s holdings in Canadian Pacific Kansas City were worth $22,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CP. North Capital Inc. purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its position in 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 acquiring an additional 256 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted 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 buying an additional 164 shares during the last quarter. Finally, Curat Global LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $42,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Down 0.9%

Shares of CP traded down $0.66 during mid-day trading on Friday, hitting $72.89. 3,538,129 shares of the company's stock were exchanged, compared to its average volume of 3,097,308. The company has a market cap of $66.91 billion, a PE ratio of 22.71, a P/E/G ratio of 2.05 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. The company has a 50-day simple moving average of $79.74 and a 200 day simple moving average of $76.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business posted $1.05 earnings per share. Canadian Pacific Kansas City's quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast 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. Shareholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Bank of America increased their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Barclays increased their price objective 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. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 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 assigned a strong buy rating to the company's stock. 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 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.