Canadian Pacific Kansas City Limited $CP Stake Raised by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,973 shares of the transportation company’s stock after buying an additional 2,975 shares during the period. Cidel Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $12,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. Wealth Enhancement Advisory Services LLC raised its holdings in Canadian Pacific Kansas City by 8.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 113,117 shares of the transportation company’s stock worth $7,942,000 after purchasing an additional 8,627 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Canadian Pacific Kansas City by 28.8% during the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company’s stock worth $7,106,000 after purchasing an additional 22,606 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Canadian Pacific Kansas City by 19.3% during the first quarter. QRG Capital Management Inc. now owns 15,276 shares of the transportation company’s stock worth $1,072,000 after purchasing an additional 2,476 shares in the last quarter. Intact Investment Management Inc. raised its holdings in Canadian Pacific Kansas City by 189.3% during the first quarter. Intact Investment Management Inc. now owns 603,041 shares of the transportation company’s stock worth $42,326,000 after purchasing an additional 394,580 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth approximately $20,398,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 1.5%

Shares of NYSE:CP opened at $76.61 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The firm has a fifty day moving average of $75.44 and a two-hundred day moving average of $76.68. The firm has a market capitalization of $69.47 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a $0.1651 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.56%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CP shares. Citigroup dropped their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Barclays set a $90.00 target price on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wall Street Zen cut Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. National Bankshares reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.38.

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.