Pictet North America Advisors SA Raises Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Pictet North America Advisors SA increased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 88.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 349,537 shares of the transportation company's stock after purchasing an additional 164,010 shares during the period. Canadian Pacific Kansas City accounts for 2.5% of Pictet North America Advisors SA's holdings, making the stock its 11th biggest holding. Pictet North America Advisors SA's holdings in Canadian Pacific Kansas City were worth $24,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $914,090,000. Causeway Capital Management LLC grew its holdings in Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after acquiring an additional 6,687,770 shares during the period. Invesco Ltd. raised its position in Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after acquiring an additional 2,177,604 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Canadian Pacific Kansas City by 44.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock valued at $351,723,000 after acquiring an additional 1,516,684 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Canadian Pacific Kansas City by 11.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after purchasing an additional 1,262,913 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Shares of CP traded down $0.91 during mid-day trading on Thursday, hitting $80.84. The company's stock had a trading volume of 615,376 shares, compared to its average volume of 2,805,283. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The firm has a market capitalization of $74.48 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.19 and a beta of 1.07. The firm has a 50-day simple moving average of $78.80 and a 200 day simple moving average of $76.18.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. Canadian Pacific Kansas City's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.1644 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.66 dividend on an annualized basis and a yield of 0.81%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's payout ratio is currently 22.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup cut their price target on Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays cut their price objective on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Susquehanna reiterated a "positive" rating and set a $94.00 target price (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. 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 report on Friday, May 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.95.

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.