Otter Creek Advisors LLC Reduces Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• Otter Creek Advisors LLC reduced its stake in Canadian Pacific Kansas City Limited by 87.7% during the second quarter, selling 20,981 shares, leaving it with 2,934 shares now valued at $233,000.
• Other institutional investors, like Bank of New York Mellon Corp and Ninety One North America Inc., increased their stakes by 3.0% and 135.7%, respectively, indicating overall interest in the company remains high.
• Canadian Pacific Kansas City recently announced a quarterly dividend increase to $0.1651, reflecting a positive change and resulting in a 0.9% dividend yield for shareholders.

Otter Creek Advisors LLC lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 87.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,934 shares of the transportation company's stock after selling 20,981 shares during the quarter. Otter Creek Advisors LLC's holdings in Canadian Pacific Kansas City were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Canadian Pacific Kansas City by 3.0% in the 1st 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 lifted its stake in shares of Canadian Pacific Kansas City by 70.0% in the 1st 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. Vanderbilt University lifted its stake in shares of Canadian Pacific Kansas City by 10.3% in the 2nd quarter. Vanderbilt University now owns 75,452 shares of the transportation company's stock valued at $5,982,000 after purchasing an additional 7,050 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Canadian Pacific Kansas City by 28.8% in the 1st 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, Ninety One North America Inc. lifted its stake in shares of Canadian Pacific Kansas City by 135.7% in the 2nd quarter. Ninety One North America Inc. now owns 206,785 shares of the transportation company's stock valued at $16,394,000 after purchasing an additional 119,052 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CP. National Bankshares reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Citigroup lowered their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, October 13th. Finally, Barclays set a $90.00 price objective on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus price target of $91.38.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $76.61 on Friday. The company has a market capitalization of $69.47 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The business's fifty day moving average is $75.44 and its 200 day moving average is $76.65. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The business's revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change 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 currently 20.56%.

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.

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