JPMorgan Chase & Co. Buys 117,322 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• JPMorgan Chase & Co. increased its stake in Canadian Pacific Kansas City Limited by 1.4%, holding approximately 8.5 million shares valued at $599.96 million after acquiring additional shares in the first quarter.
• Canadian Pacific Kansas City reported a $0.81 EPS for the last quarter, missing analysts' expectations, while revenues were up 2.7% year-over-year but also fell short of estimates.
• The company announced a quarterly dividend increase, with the new rate being $0.1651 per share, leading to a 0.9% dividend yield.

JPMorgan Chase & Co. raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,545,254 shares of the transportation company's stock after purchasing an additional 117,322 shares during the period. JPMorgan Chase & Co. owned approximately 0.92% of Canadian Pacific Kansas City worth $599,962,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital Insight Partners LLC raised its position in shares of Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock valued at $2,858,000 after buying an additional 143 shares in the last quarter. Davidson Trust Co. raised its position in shares of Canadian Pacific Kansas City by 3.2% in the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after buying an additional 144 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Canadian Pacific Kansas City by 2.2% in the 4th quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock valued at $521,000 after buying an additional 152 shares in the last quarter. Transatlantique Private Wealth LLC raised its position in shares of Canadian Pacific Kansas City by 1.6% in the 4th quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock valued at $728,000 after buying an additional 157 shares in the last quarter. Finally, Tradewinds LLC. raised its position in shares of Canadian Pacific Kansas City by 3.8% in the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after buying an additional 157 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CP shares. Evercore ISI lowered their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stephens upped their price objective on shares of 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. Susquehanna reiterated a "positive" rating and set a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Bank of America upped their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Stock Up 0.3%

NYSE CP traded up $0.24 on Friday, hitting $74.12. 1,649,125 shares of the company were exchanged, compared to its average volume of 3,530,983. The company has a market cap of $67.72 billion, a PE ratio of 23.09, a PEG ratio of 2.07 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The stock has a fifty day moving average of $78.45 and a 200-day moving average of $76.75. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued 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). The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $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 year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio is currently 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.