Canadian Pacific Kansas City Limited (NYSE:CP) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc. increased its holdings in Canadian Pacific Kansas City by 0.5% in Q1, now owning over 20.8 million shares valued at approximately $1.46 billion.
• Analysts have downgraded the stock's price targets; Jefferies Financial Group reduced its target from $100 to $90, indicating a cautious outlook on the company's performance.
• Canadian Pacific Kansas City announced a new quarterly dividend of $0.1644 per share, up from $0.13, reflecting a commitment to returning value to shareholders.

TD Asset Management Inc raised its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,865,404 shares of the transportation company's stock after purchasing an additional 104,077 shares during the period. Canadian Pacific Kansas City makes up about 1.3% of TD Asset Management Inc's investment portfolio, making the stock its 12th largest holding. TD Asset Management Inc owned 2.24% of Canadian Pacific Kansas City worth $1,464,094,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth approximately $914,090,000. Causeway Capital Management LLC grew its stake in shares of Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after acquiring an additional 6,687,770 shares during the period. Invesco Ltd. increased its holdings in Canadian Pacific Kansas City by 25.7% in the 4th quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock worth $770,526,000 after acquiring an additional 2,177,604 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Canadian Pacific Kansas City by 44.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings 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 acquiring an additional 1,262,913 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CP shares. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Citigroup increased their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Bank of America increased their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Royal Bank Of Canada cut their price target on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Susquehanna restated a "positive" rating and set a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.95.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $1.01 during trading hours on Monday, reaching $75.92. The company had a trading volume of 2,990,323 shares, compared to its average volume of 2,516,056. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. The stock has a fifty day moving average of $80.35 and a 200-day moving average of $76.94. The company has a market capitalization of $69.69 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.15 and a beta of 1.07. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a $0.1644 dividend. This represents a $0.66 annualized dividend and a yield of 0.87%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio is presently 22.30%.

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.