Citigroup Forecasts Strong Price Appreciation for Canadian Pacific Kansas City (NYSE:CP) Stock

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target increased by Citigroup from $88.00 to $91.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the transportation company’s stock.

CP has been the topic of several other research reports. Wolfe Research raised shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research note on Wednesday, January 8th. Susquehanna reduced their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Sanford C. Bernstein reduced their price target on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price objective on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus price target of $95.45.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $79.57 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The firm has a 50 day simple moving average of $75.40 and a 200 day simple moving average of $79.02. 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 $74.28 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.04 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Sell-side analysts predict that Canadian Pacific Kansas City will post 3.5 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a dividend of $0.1318 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.66%. Canadian Pacific Kansas City’s payout ratio is 18.62%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of Canadian Pacific Kansas City by 2,685.7% during the second quarter. Millennium Management LLC now owns 111,427 shares of the transportation company’s stock worth $8,773,000 after buying an additional 107,427 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Canadian Pacific Kansas City by 9.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,275 shares of the transportation company’s stock worth $809,000 after acquiring an additional 919 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $3,267,000. Heritage Wealth Management Inc. bought a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $612,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Canadian Pacific Kansas City by 12.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 141 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

About Canadian Pacific Kansas City

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.