The Manufacturers Life Insurance Company Makes New Investment in Canadian Pacific Kansas City Limited $CP

Key Points

• The Manufacturers Life Insurance Company acquired 7.6 million shares of Canadian Pacific Kansas City in the second quarter, worth approximately $657.7 million and representing a 0.87% stake. Institutional investors and hedge funds collectively own 72.2% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $108.60. Recent targets were raised by Susquehanna, Citigroup, and Canadian Imperial Bank of Commerce.
• CP exceeded quarterly expectations, reporting $0.92 in earnings per share versus a $0.89 estimate and $2.93 billion in revenue, up 12.6% year over year. The company also declared a quarterly dividend of $0.268 per share, equating to a 1.1% annualized yield.

The Manufacturers Life Insurance Company acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,600,778 shares of the transportation company's stock, valued at approximately $657,672,000. The Manufacturers Life Insurance Company owned approximately 0.87% of Canadian Pacific Kansas City at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CP. Jones Financial Companies Lllp acquired a new position in Canadian Pacific Kansas City during the second quarter worth $44,000. Sone Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at $8,269,000. Fiduciary Financial Advisors acquired a new position in shares of Canadian Pacific Kansas City during the second quarter valued at about $25,000. Cullen Capital Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the second quarter valued at about $404,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Canadian Pacific Kansas City during the second quarter worth about $337,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CP. Citizens Jmp started coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Susquehanna upped their price target on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a "positive" rating in a report on Tuesday, July 14th. Citigroup increased their price target on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an "outperformer" rating in a research note on Thursday, June 25th. Finally, Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.60.

Canadian Pacific Kansas City Stock Down 2.1%

Shares of NYSE CP opened at $94.69 on Tuesday. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $96.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The business's fifty day moving average price is $90.32 and its 200-day moving average price is $86.36. The stock has a market capitalization of $83.17 billion, a PE ratio of 30.45, a P/E/G ratio of 1.89 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. On average, equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be given a $0.268 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a dividend yield of 1.1%. Canadian Pacific Kansas City's payout ratio is 25.08%.

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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