Goldman Sachs Group Inc. Raises Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Goldman Sachs Group Inc. increased its stake in Canadian Pacific Kansas City Limited by 70.4%, now owning nearly 9.3 million shares valued at approximately $652.9 million.
• Several hedge funds, including Vanguard and Invesco, have also raised their investments in the company, contributing to 72.20% of its stock being owned by institutional investors.
• The company announced an increase in its quarterly dividend, now paying $0.1651 per share, resulting in an annualized yield of 0.9%.

Goldman Sachs Group Inc. raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 70.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,299,753 shares of the transportation company's stock after purchasing an additional 3,842,866 shares during the quarter. Goldman Sachs Group Inc. owned 1.01% of Canadian Pacific Kansas City worth $652,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Canadian Pacific Kansas City by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after purchasing an additional 364,515 shares during the period. TD Asset Management Inc increased its position in Canadian Pacific Kansas City by 0.5% in the first quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock worth $1,464,094,000 after buying an additional 104,077 shares during the last quarter. Causeway Capital Management LLC increased its position in Canadian Pacific Kansas City by 11.5% in the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock worth $1,207,605,000 after buying an additional 1,778,984 shares during the last quarter. Invesco Ltd. increased its position in Canadian Pacific Kansas City by 59.5% in the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after buying an additional 6,337,312 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Canadian Pacific Kansas City by 6.5% in the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after buying an additional 999,522 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CP. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Stephens lifted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. 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 note on Thursday, July 10th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Finally, Citigroup boosted their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $76.64 on Monday. 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 cap of $69.50 billion, a PE ratio of 23.87, a P/E/G ratio of 2.15 and a beta of 1.06. The business has a 50 day moving average of $77.06 and a 200 day moving average of $76.46. 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 announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.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 company posted $1.05 EPS. The firm's revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be given a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio is currently 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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