AIA Group Ltd Acquires 6,115 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

AIA Group Ltd boosted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 13.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,453 shares of the transportation company’s stock after purchasing an additional 6,115 shares during the quarter. AIA Group Ltd’s holdings in Canadian Pacific Kansas City were worth $4,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CP. Creative Planning grew its position in shares of Canadian Pacific Kansas City by 4.1% during the 3rd quarter. Creative Planning now owns 208,419 shares of the transportation company’s stock worth $15,508,000 after buying an additional 8,144 shares during the period. OLD National Bancorp IN grew its position in shares of Canadian Pacific Kansas City by 14.1% during the 3rd quarter. OLD National Bancorp IN now owns 7,070 shares of the transportation company’s stock worth $526,000 after buying an additional 872 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth about $220,000. Carmignac Gestion acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth about $9,469,000. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Canadian Pacific Kansas City by 20.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,076 shares of the transportation company’s stock valued at $1,348,000 after purchasing an additional 3,115 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Price Performance

NYSE:CP traded up $0.08 during trading hours on Friday, hitting $83.35. The company’s stock had a trading volume of 1,382,136 shares, compared to its average volume of 2,194,321. The stock has a fifty day simple moving average of $79.50 and a 200-day simple moving average of $82.34. The company has a market capitalization of $77.77 billion, a P/E ratio of 26.71, a PEG ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.16 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a $0.141 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.56 annualized dividend and a yield of 0.68%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.

Wall Street Analysts Forecast Growth

CP has been the subject of several research analyst reports. Evercore decreased their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday. Jefferies Financial Group began coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a “buy” rating and a $105.00 price target for the company. Susquehanna reaffirmed a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 25th. Finally, Barclays upped their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.95.

Canadian Pacific Kansas City 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.