LGT Fund Management Co Ltd. Trims Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Canadian Pacific Kansas City Limited by 5.8%, now holding 76,388 shares worth approximately $6.06 million.
• Several institutional investors have increased their stakes in Canadian Pacific Kansas City, with Invesco Ltd. raising its position by 59.5% and Goldman Sachs by 70.4% during the first quarter of the year.
• The company has announced a quarterly dividend increase to $0.1651 per share, reflecting a 0.9% annual yield, with a payout ratio of 20.56%.

LGT Fund Management Co Ltd. reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,388 shares of the transportation company's stock after selling 4,709 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Canadian Pacific Kansas City were worth $6,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CP. Invesco Ltd. raised its position in Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Canadian Pacific Kansas City by 70.4% during the first quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock worth $652,936,000 after acquiring an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $126,928,000. Causeway Capital Management LLC increased its position in shares of Canadian Pacific Kansas City by 11.5% during 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 acquiring an additional 1,778,984 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Canadian Pacific Kansas City by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after acquiring an additional 1,516,684 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CP shares. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Stephens raised their target price 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. Barclays set a $90.00 target price on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research report on Thursday. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Susquehanna dropped their price objective on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.80.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $77.60 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The firm's 50 day moving average price is $75.16 and its 200-day moving average price is $76.35. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $83.65. The company has a market cap of $70.38 billion, a PE ratio of 24.17, a P/E/G ratio of 2.13 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Canadian Pacific Kansas City's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

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