Midwest Trust Co Takes Position in Canadian Pacific Kansas City Limited $CP

Midwest Trust Co purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 179,415 shares of the transportation company’s stock, valued at approximately $14,222,000.

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

Analyst Ratings Changes

CP has been the topic of a number of recent research reports. Susquehanna set a $87.00 price objective on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their price target on shares of Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Stephens raised their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Evercore ISI reduced their price objective on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Finally, National Bankshares reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $70.90 on Monday. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market capitalization of $63.84 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.03 and a beta of 1.08. The stock’s 50-day simple moving average is $74.93 and its 200-day simple moving average is $76.87.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be given a $0.228 dividend. This represents a $0.91 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s payout ratio is currently 19.51%.

Canadian Pacific Kansas City 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.