Foster Victor Wealth Advisors LLC Increases Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Canadian Pacific Kansas City Limited by 3.0%, amounting to a total of 239,415 shares, valued at approximately $19.5 million.
• Canadian Pacific Kansas City has received an average rating of "Moderate Buy" from analysts, with a consensus price target of $92.30.
• The company recently announced a quarterly dividend increase to $0.1651 per share, which will be paid to stockholders on October 27th, boosting the annualized yield to 0.9%.

Foster Victor Wealth Advisors LLC grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,415 shares of the transportation company's stock after purchasing an additional 7,004 shares during the quarter. Canadian Pacific Kansas City makes up approximately 1.3% of Foster Victor Wealth Advisors LLC's portfolio, making the stock its 17th largest holding. Foster Victor Wealth Advisors LLC's holdings in Canadian Pacific Kansas City were worth $19,486,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. North Capital Inc. acquired a new stake in Canadian Pacific Kansas City during the 1st quarter valued at $27,000. Cornerstone Planning Group LLC raised its stake in Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Cheviot Value Management LLC purchased a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth about $31,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after purchasing an additional 164 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CP shares. National Bankshares reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Barclays lifted their price objective on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Stephens increased their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Citigroup lifted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Stock Down 0.7%

Shares of NYSE:CP opened at $74.08 on Wednesday. The company has a 50 day moving average of $75.69 and a two-hundred day moving average of $76.33. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $86.84. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $67.18 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced 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). The firm had revenue of $2.72 billion during 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%. Canadian Pacific Kansas City's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This is a boost 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 payout ratio is 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.

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