Mackenzie Financial Corp Increases Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Mackenzie Financial Corp lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,348,282 shares of the transportation company's stock after buying an additional 276,223 shares during the period. Canadian Pacific Kansas City makes up about 1.4% of Mackenzie Financial Corp's portfolio, making the stock its 11th largest position. Mackenzie Financial Corp owned approximately 1.64% of Canadian Pacific Kansas City worth $1,110,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in Canadian Pacific Kansas City by 2.8% during the 3rd quarter. Barclays PLC now owns 2,929,642 shares of the transportation company's stock worth $250,602,000 after purchasing an additional 81,111 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Pacific Kansas City by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company's stock valued at $750,046,000 after acquiring an additional 381,594 shares during the period. Merit Financial Group LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at approximately $288,000. Simon Quick Advisors LLC lifted its stake in Canadian Pacific Kansas City by 35.2% during the 4th quarter. Simon Quick Advisors LLC now owns 4,167 shares of the transportation company's stock valued at $302,000 after acquiring an additional 1,084 shares during the period. Finally, Daymark Wealth Partners LLC lifted its stake in Canadian Pacific Kansas City by 10.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 5,039 shares of the transportation company's stock valued at $365,000 after acquiring an additional 473 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Argus set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research note on Wednesday, March 26th. Citigroup decreased their target price on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Bank of America boosted their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, May 1st. Finally, Barclays reduced their price target on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.63.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP traded up $0.46 during trading on Tuesday, hitting $80.63. The company had a trading volume of 2,461,135 shares, compared to its average volume of 2,793,605. The stock has a fifty day simple moving average of $74.12 and a two-hundred day simple moving average of $75.23. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The firm has a market capitalization of $75.02 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. On average, research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a $0.1644 dividend. 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 is 21.28%.

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.