Magnetar Financial LLC Has $477,000 Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Magnetar Financial LLC significantly reduced its holdings in Canadian Pacific Kansas City Limited by selling 8,458 shares, resulting in a 55.4% decrease in position during the 1st quarter.
• For the latest quarter, Canadian Pacific Kansas City reported an EPS of $0.81, missing analysts' estimates by $0.01, while revenue was $2.72 billion, just below expectations.
• The company announced a quarterly dividend of $0.1651 per share, reflecting an increase from the previous quarter's dividend and representing an annualized yield of 0.9%.

Magnetar Financial LLC cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 55.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,796 shares of the transportation company's stock after selling 8,458 shares during the period. Magnetar Financial LLC's holdings in Canadian Pacific Kansas City were worth $477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Canadian Pacific Kansas City by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock worth $74,807,000 after purchasing an additional 31,508 shares in the last quarter. Concurrent Investment Advisors LLC raised 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 worth $421,000 after purchasing an additional 2,467 shares in the last quarter. CX Institutional purchased a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth about $61,000. Janney Montgomery Scott LLC raised its stake in shares of Canadian Pacific Kansas City by 28.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock worth $7,106,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Canadian Pacific Kansas City by 1.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after acquiring an additional 290 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Susquehanna reissued a "positive" rating and issued a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

NYSE CP traded up $0.17 during trading on Wednesday, hitting $76.60. The company's stock had a trading volume of 2,716,726 shares, compared to its average volume of 3,005,941. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $77.15 and a 200 day moving average price of $76.51. The firm has a market cap of $69.98 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 2.13 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.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data 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 return on equity of 8.69% and a net margin of 28.05%.The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the business posted $1.05 EPS. Canadian Pacific Kansas City's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's payout ratio is 20.56%.

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.