IMS Capital Management Takes Position in Canadian Pacific Kansas City Limited $CP

Key Points

• IMS Capital Management has acquired a new stake in Canadian Pacific Kansas City Limited, purchasing 5,568 shares valued at approximately $441,000 during the second quarter.
• Analysts have a generally positive outlook for Canadian Pacific Kansas City, with multiple upgrades including a target price increase from $89.00 to $94.00 by Citigroup, and 12 analysts assigning a Buy rating.
• The company has recently increased its quarterly dividend from $0.16 to $0.1651, representing an annualized yield of 0.9%, with the payment scheduled for October 27th.

IMS Capital Management purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,568 shares of the transportation company's stock, valued at approximately $441,000.

A number of other hedge funds have also bought and sold shares of CP. Covea Finance purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $4,208,000. Financial Partners Group Inc grew its position in shares of Canadian Pacific Kansas City by 0.9% in the second quarter. Financial Partners Group Inc now owns 49,757 shares of the transportation company's stock valued at $3,944,000 after purchasing an additional 423 shares in the last quarter. Foster Group Inc. raised its stake in shares of Canadian Pacific Kansas City by 7.5% during the 2nd quarter. Foster Group Inc. now owns 4,670 shares of the transportation company's stock valued at $370,000 after purchasing an additional 327 shares during the period. Scharf Investments LLC bought a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at $226,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Canadian Pacific Kansas City by 1.6% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 26,230 shares of the transportation company's stock worth $2,079,000 after purchasing an additional 403 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CP has been the topic of several analyst reports. National Bankshares reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. Citigroup upped their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Barclays boosted their price target on shares of 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. Finally, Stephens increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $74.08 on Wednesday. The company has a market capitalization of $67.18 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.09 and a beta of 1.06. The business has a 50 day moving average of $75.69 and a 200 day moving average of $76.33. 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 Limited has a 1-year low of $66.49 and a 1-year high of $86.84.

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 analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, sell-side analysts predict 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. Investors of record on Friday, September 26th will be given a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 26th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend 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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