Canadian Pacific Kansas City Limited (NYSE:CP) Position Raised by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in Canadian Pacific Kansas City Limited by 6.5%, acquiring 999,522 shares to reach a total of 16,347,804 shares, making CP the firm's 6th largest position.
• Canadian Pacific Kansas City recently reported quarterly earnings of $0.74 EPS, matching analysts' expectations, with a net revenue of $2.66 billion, exceeding forecasts.
• The company announced a quarterly dividend of $0.1644 per share, raising its annualized dividend to approximately $0.66, reflecting a positive change from the previous amount.

Mackenzie Financial Corp increased its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,347,804 shares of the transportation company's stock after acquiring an additional 999,522 shares during the period. Canadian Pacific Kansas City comprises about 1.6% of Mackenzie Financial Corp's investment portfolio, making the stock its 6th biggest holding. Mackenzie Financial Corp owned 1.76% of Canadian Pacific Kansas City worth $1,147,220,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Canadian Pacific Kansas City by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock worth $74,807,000 after buying an additional 31,508 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Canadian Pacific Kansas City by 70.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after acquiring an additional 2,467 shares during the period. CX Institutional purchased a new stake in Canadian Pacific Kansas City in the 1st quarter worth approximately $61,000. Janney Montgomery Scott LLC lifted its holdings in Canadian Pacific Kansas City by 28.8% during the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Canadian Pacific Kansas City by 1.0% during the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

CP has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada dropped their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Evercore ISI decreased their target price on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Citigroup upped their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Stephens lifted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Trading Down 2.9%

Shares of CP traded down $2.18 during trading hours on Thursday, reaching $73.53. 4,222,935 shares of the company traded hands, compared to its average volume of 3,215,482. The firm has a market cap of $67.50 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.13 and a beta of 1.07. The stock's fifty day moving average price is $80.02 and its 200 day moving average price is $76.93. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

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 analysts' expectations of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Company 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.