Northern Trust Corp Has $204.33 Million Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Northern Trust Corp has increased its stake in Canadian Pacific Kansas City Limited by 19.0%, owning approximately 0.31% of the company valued at $204.3 million following the acquisition of additional shares.
• The company has recently announced a dividend increase, with shareholders set to receive a quarterly dividend of $0.1651 on October 27th, marking a rise from the previous dividend of $0.16.
• Despite the positive dividend news, Canadian Pacific's stock price fell by 1.4%, closing at $73.26, while analysts have a consensus rating of "Moderate Buy" with an average price target of $92.30.

Northern Trust Corp raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 19.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,910,321 shares of the transportation company's stock after acquiring an additional 465,021 shares during the quarter. Northern Trust Corp owned approximately 0.31% of Canadian Pacific Kansas City worth $204,334,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after acquiring an additional 256 shares during the period. North Capital Inc. bought a new position in shares of Canadian Pacific Kansas City during the first quarter valued at $27,000. Cheviot Value Management LLC bought a new position in shares of Canadian Pacific Kansas City during the first quarter valued at $30,000. Bernard Wealth Management Corp. bought a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at $31,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after acquiring an additional 164 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded up $1.6080 during trading on Friday, reaching $74.8380. The company's stock had a trading volume of 4,538,451 shares, compared to its average volume of 3,418,792. The stock has a 50-day moving average price of $77.77 and a two-hundred day moving average price of $76.61. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72. The stock has a market capitalization of $68.37 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06.

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 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.Canadian Pacific Kansas City's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio is 20.56%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CP shares. Bank of America lifted their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 16th. Stephens lifted their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Royal Bank Of Canada cut their price target on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently 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.