Canadian Pacific Kansas City Limited $CP Shares Bought by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in Canadian Pacific Kansas City Limited by 11.6%, acquiring an additional 4,500 shares for a total of approximately $3 million.
• Wall Street analysts show a positive outlook for the stock, with price targets raised by several firms; the consensus rating is a "Moderate Buy" with a target of $92.30.
• Canadian Pacific Kansas City recently announced a quarterly dividend increase to $0.1651, representing an annual yield of 0.9%, with a current dividend payout ratio of 20.56%.

Gabelli Funds LLC increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,340 shares of the transportation company's stock after acquiring an additional 4,500 shares during the quarter. Gabelli Funds LLC's holdings in Canadian Pacific Kansas City were worth $3,043,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Canadian Pacific Kansas City by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock valued at $74,807,000 after buying an additional 31,508 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 70.0% during the first quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after buying an additional 2,467 shares during the last quarter. CX Institutional purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at $61,000. Janney Montgomery Scott LLC grew its holdings in shares of Canadian Pacific Kansas City by 28.8% during the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after buying an additional 22,606 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Canadian Pacific Kansas City by 1.0% during the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after buying an additional 290 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Bank of America upped their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded up $0.02 on Wednesday, reaching $76.45. The company's stock had a trading volume of 1,788,792 shares, compared to its average volume of 3,210,711. 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 $69.84 billion, a P/E ratio of 23.82, a PEG ratio of 2.13 and a beta of 1.06. The stock has a 50-day moving average price of $77.17 and a 200-day moving average price of $76.51. 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 issued its quarterly earnings results 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 company had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.Canadian Pacific Kansas City's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed 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 an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

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.