Forum Financial Management LP Raises Stock Holdings in Canadian Pacific Kansas City Limited $CP

Forum Financial Management LP raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,238 shares of the transportation company’s stock after acquiring an additional 418 shares during the period. Forum Financial Management LP’s holdings in Canadian Pacific Kansas City were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CP. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after acquiring an additional 6,337,312 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Canadian Pacific Kansas City by 70.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock valued at $652,936,000 after buying an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Canadian Pacific Kansas City during the 1st quarter valued at $126,928,000. Causeway Capital Management LLC raised its holdings in Canadian Pacific Kansas City by 11.5% during the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after buying an additional 1,778,984 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Canadian Pacific Kansas City by 47.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,541,610 shares of the transportation company’s stock valued at $318,775,000 after buying an additional 1,465,689 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $75.45 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $75.57 and its two-hundred day simple moving average is $76.96. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65. The firm has a market cap of $68.43 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.14 and a beta of 1.08.

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

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.56%.

Analysts Set New Price Targets

Several analysts recently weighed in on CP shares. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Susquehanna decreased their price target on Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating on the stock in a report on Thursday, September 25th. National Bankshares restated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Finally, Citigroup decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average target price of $91.38.

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.