Canadian Pacific Kansas City Limited (NYSE:CP) Sees Significant Growth in Short Interest

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 7,110,000 shares, a growth of 5.2% from the December 15th total of 6,760,000 shares. Based on an average daily volume of 2,850,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its stake in Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after buying an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after acquiring an additional 723,188 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after purchasing an additional 216,062 shares during the period. JPMorgan Chase & Co. grew its position in Canadian Pacific Kansas City by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock worth $750,046,000 after purchasing an additional 381,594 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Canadian Pacific Kansas City by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after purchasing an additional 537,418 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI boosted their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Susquehanna reduced their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Finally, Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.63.

Canadian Pacific Kansas City Trading Up 0.3 %

Shares of Canadian Pacific Kansas City stock opened at $74.80 on Tuesday. The business has a fifty day simple moving average of $74.69 and a 200-day simple moving average of $79.16. Canadian Pacific Kansas City has a fifty-two week low of $70.89 and a fifty-two week high of $91.58. The firm has a market cap of $69.83 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. Canadian Pacific Kansas City’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities analysts forecast that Canadian Pacific Kansas City will post 3.02 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.14 dividend. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.75%. Canadian Pacific Kansas City’s payout ratio is 19.29%.

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.