LGT Fund Management Co Ltd. Has $5.69 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• LGT Fund Management Co Ltd. increased its stake in Canadian Pacific Kansas City Limited by 13.7%, now owning 81,097 shares valued at approximately $5.69 million.
• Canadian Pacific Kansas City plans to distribute a quarterly dividend of $0.1651, an increase from its previous dividend of $0.16, reflecting a positive change in its dividend payout strategy.
• Several analysts have updated their ratings and price targets for Canadian Pacific Kansas City, with a consensus price target of $92.30 and an overall rating of "Moderate Buy."

LGT Fund Management Co Ltd. boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 13.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,097 shares of the transportation company's stock after purchasing an additional 9,759 shares during the period. LGT Fund Management Co Ltd.'s holdings in Canadian Pacific Kansas City were worth $5,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Causeway Capital Management LLC grew its holdings in Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Invesco Ltd. raised its position in shares of Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock valued at $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Canadian Pacific Kansas City by 70.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock worth $652,936,000 after buying an additional 3,842,866 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth about $126,928,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Canadian Pacific Kansas City by 44.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock valued at $351,723,000 after buying an additional 1,516,684 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded up $0.24 during midday trading on Friday, reaching $74.12. 1,649,125 shares of the company traded hands, compared to its average volume of 3,530,983. The stock has a 50-day moving average price of $78.45 and a 200 day moving average price of $76.75. The company has a market cap of $67.72 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.07 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. 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 (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the firm earned $1.05 EPS. The company's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City's payout ratio is currently 20.56%.

Analysts Set New Price Targets

CP has been the subject of a number of research analyst reports. Barclays raised their price target on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Wall Street Zen cut shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Citigroup upped their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

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.