CHB Investment Group LLC Buys New Position in Canadian Pacific Kansas City Limited (NYSE:CP)

CHB Investment Group LLC purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,860 shares of the transportation company’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mirova US LLC acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after buying an additional 1,678,784 shares during the period. Cantillon Capital Management LLC lifted its stake in Canadian Pacific Kansas City by 49.1% during the first quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after buying an additional 1,174,200 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Canadian Pacific Kansas City by 8,261.4% in the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after buying an additional 932,216 shares during the period. Finally, AGF Management Ltd. increased its position in shares of Canadian Pacific Kansas City by 86.5% in the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock worth $125,094,000 after acquiring an additional 735,816 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CP. Barclays raised their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Citigroup initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target on the stock. Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, Evercore ISI increased their price target on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.90.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $81.22 on Friday. The business’s 50-day simple moving average is $82.79 and its 200-day simple moving average is $81.77. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.2 earnings per share 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, October 28th. Shareholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. This represents a $0.55 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is 17.31%.

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.