Hemenway Trust Co LLC Acquires 10,371 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Hemenway Trust Co LLC grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 98.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,856 shares of the transportation company's stock after acquiring an additional 10,371 shares during the quarter. Hemenway Trust Co LLC's holdings in Canadian Pacific Kansas City were worth $1,464,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth about $31,000. Kestra Investment Management LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at about $33,000. Millstone Evans Group LLC bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $36,000. Curio Wealth LLC bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth approximately $39,000. Finally, Parvin Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $43,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

Shares of CP traded up $0.14 during mid-day trading on Friday, reaching $80.29. 1,134,113 shares of the stock traded hands, compared to its average volume of 2,783,660. The company has a market cap of $73.98 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The firm has a fifty day moving average price of $77.72 and a 200 day moving average price of $75.93. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The business had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 17.91%.

Wall Street Analyst Weigh In

CP has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Citigroup decreased their price objective on Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Royal Bank Of Canada cut their target price on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Jefferies Financial Group dropped their price target on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.66.

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.