Pacific Heights Asset Management LLC Boosts Stock Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Pacific Heights Asset Management LLC increased its stake in Canadian Pacific Kansas City Limited by 5.1%, acquiring an additional 8,000 shares, bringing its total to 165,000 shares valued at approximately $13.08 million.
• Several large investors, including Vanguard Group Inc. and Invesco Ltd., also boosted their holdings, indicating growing institutional interest in Canadian Pacific Kansas City.
• Analysts have varying opinions on the stock, with a consensus target price of $91.38 and ratings ranging from "Strong Buy" to "Sell," reflecting a cautious yet generally optimistic outlook.

Pacific Heights Asset Management LLC boosted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,000 shares of the transportation company's stock after purchasing an additional 8,000 shares during the period. Pacific Heights Asset Management LLC's holdings in Canadian Pacific Kansas City were worth $13,080,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Canadian Pacific Kansas City by 1.0% during the first quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after purchasing an additional 364,515 shares during the period. TD Asset Management Inc raised its stake in Canadian Pacific Kansas City by 0.7% during the second quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company's stock worth $1,665,106,000 after purchasing an additional 136,970 shares during the period. Causeway Capital Management LLC raised its stake in Canadian Pacific Kansas City by 11.5% during the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock worth $1,207,605,000 after purchasing an additional 1,778,984 shares during the period. Invesco Ltd. raised its stake in Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Canadian Pacific Kansas City by 6.5% during the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after purchasing an additional 999,522 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CP shares. Barclays set a $90.00 price target on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Citigroup cut their target price on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Stephens raised their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Susquehanna cut their target price on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.38.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $75.64 on Wednesday. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The company has a market capitalization of $68.59 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. 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 firm's fifty day moving average price is $75.49 and its 200 day moving average price is $76.76.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released 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 last year, the firm earned $1.05 EPS. The business's quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a dividend of $0.1651 per share. 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. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is presently 20.56%.

Canadian Pacific Kansas City 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.

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