Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. increased its stake in Canadian Pacific Kansas City Limited by 13.3%, acquiring an additional 182,275 shares during the first quarter, now holding 1,557,543 shares in total.
• Various institutional investors have also adjusted their positions, leading to institutional ownership of 72.20% of the stock, reflecting a strong interest in Canadian Pacific Kansas City.
• The company declared a quarterly dividend of $0.1644, representing an increase from its previous dividend of $0.13, with a current dividend yield of 0.87%.

Thornburg Investment Management Inc. raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,557,543 shares of the transportation company's stock after acquiring an additional 182,275 shares during the quarter. Canadian Pacific Kansas City makes up about 1.5% of Thornburg Investment Management Inc.'s portfolio, making the stock its 19th biggest position. Thornburg Investment Management Inc. owned approximately 0.17% of Canadian Pacific Kansas City worth $109,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CP. Capital Insight Partners LLC grew its stake in Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock worth $2,858,000 after acquiring an additional 143 shares during the period. Davidson Trust Co. grew its stake in Canadian Pacific Kansas City by 3.2% in the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after buying an additional 144 shares during the last quarter. Advisory Services Network LLC grew its position in Canadian Pacific Kansas City by 2.2% in the 4th quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock worth $521,000 after purchasing an additional 152 shares during the last quarter. Transatlantique Private Wealth LLC lifted its holdings in Canadian Pacific Kansas City by 1.6% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock valued at $728,000 after purchasing an additional 157 shares during the last quarter. Finally, Tradewinds LLC. raised its stake in shares of Canadian Pacific Kansas City by 3.8% in the first quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock worth $304,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Citigroup boosted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Jefferies Financial Group decreased their target price on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Barclays upped their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP traded down $0.66 during trading on Friday, hitting $72.89. 3,538,129 shares of the stock traded hands, compared to its average volume of 3,233,635. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.43. The company has a market cap of $66.91 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.12 and a beta of 1.07. The company has a fifty day moving average price of $79.88 and a two-hundred day moving average price of $76.93. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.56 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.68%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Canadian Pacific Kansas City's payout ratio is currently 20.56%.

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.