King Luther Capital Management Corp Acquires 846 Shares of Canadian Pacific Kansas City Limited $CP

King Luther Capital Management Corp raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,495 shares of the transportation company’s stock after buying an additional 846 shares during the quarter. King Luther Capital Management Corp’s holdings in Canadian Pacific Kansas City were worth $911,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Midwest Trust Co purchased a new stake in Canadian Pacific Kansas City in the second quarter worth $14,222,000. Rathbones Group PLC raised its holdings in Canadian Pacific Kansas City by 9.7% in the 2nd quarter. Rathbones Group PLC now owns 1,651,653 shares of the transportation company’s stock worth $130,928,000 after purchasing an additional 146,561 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian Pacific Kansas City by 18.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,318,587 shares of the transportation company’s stock worth $342,440,000 after purchasing an additional 686,751 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Canadian Pacific Kansas City by 2.2% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock valued at $51,410,000 after purchasing an additional 14,260 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. increased its position in shares of Canadian Pacific Kansas City by 81.2% during the second quarter. PCJ Investment Counsel Ltd. now owns 80,540 shares of the transportation company’s stock valued at $6,386,000 after buying an additional 36,100 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Susquehanna set a $87.00 price objective on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Evercore ISI decreased their target price on Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Stephens raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Barclays set a $90.00 price target on Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Citigroup reduced their price target on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $91.69.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $71.44 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a market cap of $64.33 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.04 and a beta of 1.08. The business’s 50 day moving average price is $74.73 and its 200-day moving average price is $76.85. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business earned $0.99 EPS. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be paid a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date 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 dividend payout ratio (DPR) is presently 20.12%.

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.