Scotia Capital Inc. Grows Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Scotia Capital Inc. increased its stake in Canadian Pacific Kansas City Limited by 1.5% in the first quarter, owning approximately 3,533,994 shares valued at around $246.9 million.
• Canadian Pacific Kansas City reported a quarterly revenue of $2.66 billion, exceeding analyst expectations, while earnings per share (EPS) of $0.74 matched consensus estimates.
• The company declared a quarterly dividend of $0.1651, increasing from the previous dividend of $0.16, reflecting a commitment to returning value to shareholders.

Scotia Capital Inc. grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,533,994 shares of the transportation company's stock after acquiring an additional 51,936 shares during the quarter. Canadian Pacific Kansas City comprises 1.3% of Scotia Capital Inc.'s investment portfolio, making the stock its 21st biggest holding. Scotia Capital Inc. owned about 0.38% of Canadian Pacific Kansas City worth $246,977,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in shares of Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. North Capital Inc. purchased a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $27,000. Cheviot Value Management LLC purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth approximately $30,000. Bernard Wealth Management Corp. purchased a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $31,000. Finally, Hexagon Capital Partners LLC grew its stake in Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 0.9%

Canadian Pacific Kansas City stock opened at $72.89 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The stock has a 50 day moving average of $79.74 and a two-hundred day moving average of $76.94. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $66.91 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.04 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 28.05%. The business had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the firm earned $0.93 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

Wall Street Analysts Forecast Growth

CP has been the topic of a number of research reports. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Stephens raised their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday. Barclays raised their price target on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, National Bank Financial upgraded Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Company 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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