Canadian Pacific Kansas City Limited $CP Shares Acquired by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. increased its holdings in Canadian Pacific Kansas City Limited by 125.3%, acquiring a total of 7,331 shares worth $515,000.
• Canadian Pacific Kansas City announced a quarterly dividend increase to $0.1651 per share, reflecting a 0.9% dividend yield and an annualized dividend of $0.66.
• Recent analyst ratings show a consensus price target of $92.30 for Canadian Pacific Kansas City, with one Strong Buy, eleven Buy, and four Hold ratings.

Maverick Capital Ltd. increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 125.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,331 shares of the transportation company's stock after buying an additional 4,077 shares during the quarter. Maverick Capital Ltd.'s holdings in Canadian Pacific Kansas City were worth $515,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised 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 valued at $74,807,000 after purchasing an additional 31,508 shares during the period. Concurrent Investment Advisors LLC raised its position in Canadian Pacific Kansas City by 70.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after purchasing an additional 2,467 shares during the period. CX Institutional purchased a new stake in Canadian Pacific Kansas City in the first quarter valued at approximately $61,000. Janney Montgomery Scott LLC raised its position in Canadian Pacific Kansas City by 28.8% in 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 during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Canadian Pacific Kansas City by 1.0% in the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock worth $2,012,000 after acquiring an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP traded down $0.12 on Friday, reaching $76.64. The company's stock had a trading volume of 2,393,127 shares, compared to its average volume of 2,743,303. The stock's 50-day moving average is $77.06 and its two-hundred day moving average is $76.49. 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. The stock has a market capitalization of $70.02 billion, a P/E ratio of 23.87, a PEG ratio of 2.15 and a beta of 1.06.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be issued a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a 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 dividend payout ratio is 20.56%.

Wall Street Analyst Weigh In

Several research firms have commented on CP. Bank of America boosted their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock 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, July 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Citigroup lifted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. One equities 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 given a Sell rating to the company's stock. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

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.