Saranac Partners Ltd Purchases Shares of 80,498 Canadian Pacific Kansas City Limited $CP

Key Points

• Saranac Partners Ltd initiated a new position in Canadian Pacific Kansas City, buying 80,498 shares worth about $5.97 million in the fourth quarter. The stake now represents roughly 2.3% of the firm’s portfolio.
• Several other institutional investors also increased their holdings, and institutions now own 72.20% of the railroad operator’s stock. Major holders include Vanguard, Invesco, and CIBC Asset Management.
• Analysts remain mixed on CP: the consensus rating is Moderate Buy with a $95.89 price target, while the company recently reported earnings and revenue that both missed estimates. Canadian Pacific Kansas City also raised its quarterly dividend to $0.268 per share.

Saranac Partners Ltd purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 80,498 shares of the transportation company's stock, valued at approximately $5,973,000. Canadian Pacific Kansas City accounts for about 2.3% of Saranac Partners Ltd's investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Canadian Pacific Kansas City by 1.3% during the third quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company's stock worth $2,884,826,000 after acquiring an additional 510,633 shares during the period. Invesco Ltd. lifted its holdings in Canadian Pacific Kansas City by 18.3% in the 3rd quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock valued at $1,722,841,000 after acquiring an additional 3,585,030 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Canadian Pacific Kansas City by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 8,352,370 shares of the transportation company's stock valued at $623,937,000 after acquiring an additional 698,705 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Canadian Pacific Kansas City by 6.1% during the 3rd quarter. Legal & General Group Plc now owns 7,193,408 shares of the transportation company's stock valued at $535,836,000 after purchasing an additional 413,042 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of Canadian Pacific Kansas City by 3.1% in the 3rd quarter. Fiera Capital Corp now owns 5,864,045 shares of the transportation company's stock worth $436,581,000 after purchasing an additional 178,661 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on CP shares. Citigroup boosted their target price on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Sunday. Barclays set a $99.00 price target on Canadian Pacific Kansas City and gave the company an "overweight" rating in a report on Thursday, April 30th. Royal Bank Of Canada cut their price objective on Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. Finally, National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.89.

Canadian Pacific Kansas City Price Performance

CP stock opened at $86.13 on Wednesday. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $89.42. The firm has a 50-day moving average of $82.33 and a two-hundred day moving average of $77.92. The firm has a market capitalization of $76.46 billion, a PE ratio of 26.58, a P/E/G ratio of 1.85 and a beta of 1.09. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm 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%.The business's revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. On average, analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.268 per share. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.68%.

About Canadian Pacific Kansas City

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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