Forge First Asset Management Inc. Purchases 55,000 Shares of Canadian Pacific Kansas City Limited $CP

Forge First Asset Management Inc. increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 17.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,911 shares of the transportation company’s stock after purchasing an additional 55,000 shares during the quarter. Canadian Pacific Kansas City makes up approximately 10.6% of Forge First Asset Management Inc.’s holdings, making the stock its biggest holding. Forge First Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $29,373,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Canadian Pacific Kansas City by 2.9% during the second quarter. Vanguard Group Inc. now owns 38,223,823 shares of the transportation company’s stock worth $3,036,558,000 after buying an additional 1,080,835 shares during the last quarter. TD Asset Management Inc grew its position in Canadian Pacific Kansas City by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock worth $1,665,106,000 after acquiring an additional 136,970 shares during the last quarter. Causeway Capital Management LLC increased 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 purchasing an additional 1,778,984 shares in the last quarter. Invesco Ltd. raised its position in Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock valued at $1,192,471,000 after purchasing an additional 6,337,312 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Canadian Pacific Kansas City by 6.5% in the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company’s stock valued at $1,147,220,000 after purchasing an additional 999,522 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $69.54 on Wednesday. The company has a market cap of $62.39 billion, a PE ratio of 21.20, a PEG ratio of 2.02 and a beta of 1.08. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65. The company’s 50-day moving average is $74.19 and its two-hundred day moving average is $76.78.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.During the same quarter in the prior year, the firm earned $0.99 EPS. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.228 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CP. 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. National Bankshares reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Stephens boosted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Susquehanna set a $87.00 target price on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada lowered 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 report on Thursday, October 30th. One equities research 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.69.

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.