Canadian Pacific Kansas City (NYSE:CP) Sees Unusually-High Trading Volume Following Dividend Announcement

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw strong trading volume on Monday following a dividend announcement from the company. 5,018,873 shares traded hands during trading, an increase of 54% from the previous session’s volume of 3,257,531 shares.The stock last traded at $77.17 and had previously closed at $79.60.

The newly announced dividend which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.1318 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.68%. Canadian Pacific Kansas City’s payout ratio is 18.62%.

Wall Street Analyst Weigh In

CP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Susquehanna lowered their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup raised their target price on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday. Finally, Barclays dropped their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.45.

Canadian Pacific Kansas City Stock Performance

The business’s 50-day simple moving average is $75.40 and its two-hundred day simple moving average is $78.95. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The firm has a market cap of $72.05 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.06 and a beta of 0.97.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 EPS 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%. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Canadian Pacific Kansas City by 281.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after acquiring an additional 2,532,519 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Canadian Pacific Kansas City by 84.4% in the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock valued at $251,778,000 after purchasing an additional 1,348,474 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Canadian Pacific Kansas City by 36.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock worth $245,403,000 after purchasing an additional 769,202 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Canadian Pacific Kansas City during the third quarter worth $63,179,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Canadian Pacific Kansas City by 39.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock valued at $172,132,000 after buying an additional 565,783 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.