Parr Mcknight Wealth Management Group LLC Buys 19,735 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Parr Mcknight Wealth Management Group nearly doubled its stake in Canadian Pacific Kansas City during Q1, buying 19,735 additional shares and bringing its total holding to 39,481 shares valued at about $3.1 million.
• Canadian Pacific Kansas City reported slightly weaker-than-expected Q1 results, with EPS of $0.76 versus $0.78 expected and revenue of $2.66 billion versus $2.70 billion expected.
• The railroad raised its quarterly dividend to $0.268 per share from $0.23, while analysts currently rate the stock a Moderate Buy with a consensus price target of $104.73.

Parr Mcknight Wealth Management Group LLC increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 99.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,481 shares of the transportation company's stock after buying an additional 19,735 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Canadian Pacific Kansas City were worth $3,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CP. Norges Bank bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $978,558,000. Janus Henderson Group PLC increased its stake in Canadian Pacific Kansas City by 586.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company's stock valued at $452,781,000 after purchasing an additional 5,251,755 shares in the last quarter. FIL Ltd increased its stake in Canadian Pacific Kansas City by 20.2% during the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company's stock valued at $1,227,045,000 after purchasing an additional 2,804,686 shares in the last quarter. Canoe Financial LP raised its holdings in Canadian Pacific Kansas City by 45,389.7% during the first quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company's stock worth $159,885,000 after buying an additional 2,028,010 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Canadian Pacific Kansas City by 206.0% during the fourth quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company's stock worth $208,403,000 after buying an additional 1,905,302 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Up 0.1%

Shares of CP stock opened at $90.17 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The company has a market capitalization of $79.80 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.78 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $91.52. The company has a 50-day simple moving average of $87.60 and a two-hundred day simple moving average of $82.22.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The business had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.Canadian Pacific Kansas City's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. Research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.71 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a $0.268 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City's payout ratio is presently 23.77%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CP shares. ATB Cormark Capital Markets cut shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, April 17th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, June 25th. Argus set a $105.00 price objective on Canadian Pacific Kansas City in a report on Tuesday, June 16th. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Finally, Sanford C. Bernstein raised their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a "market perform" rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.73.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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