Cannell & Spears LLC Invests $2.73 Million in Canadian Pacific Kansas City Limited (NYSE:CP)

Cannell & Spears LLC acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 37,713 shares of the transportation company’s stock, valued at approximately $2,729,000.

Other hedge funds have also added to or reduced their stakes in the company. Summit Financial LLC lifted its holdings in shares of Canadian Pacific Kansas City by 9.1% during the fourth quarter. Summit Financial LLC now owns 5,514 shares of the transportation company’s stock worth $399,000 after purchasing an additional 462 shares during the period. Alliancebernstein L.P. lifted its holdings in Canadian Pacific Kansas City by 260.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,457,682 shares of the transportation company’s stock worth $105,492,000 after buying an additional 1,053,570 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Canadian Pacific Kansas City by 7.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 62,551 shares of the transportation company’s stock valued at $4,766,000 after buying an additional 4,123 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Canadian Pacific Kansas City by 873.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 841,273 shares of the transportation company’s stock valued at $60,856,000 after buying an additional 754,853 shares during the period. Finally, Okabena Investment Services Inc. raised its position in shares of Canadian Pacific Kansas City by 9.6% during the fourth quarter. Okabena Investment Services Inc. now owns 12,920 shares of the transportation company’s stock worth $935,000 after acquiring an additional 1,132 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CP. Barclays reduced their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada increased their price objective on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Loop Capital downgraded shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Stifel Nicolaus cut their price target on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, January 16th. Finally, Argus set a $90.00 price objective on Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $70.26 on Tuesday. Canadian Pacific Kansas City Limited has a 12 month low of $68.00 and a 12 month high of $89.26. The firm has a market capitalization of $65.60 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The firm has a fifty day simple moving average of $76.36 and a two-hundred day simple moving average of $77.31. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted 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 net margin of 25.51% and a return on equity of 8.86%. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.1318 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 annualized dividend and a dividend yield of 0.75%. Canadian Pacific Kansas City’s payout ratio is 17.93%.

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.