K.J. Harrison & Partners Inc Buys 51,759 Shares of Canadian Pacific Kansas City Limited $CP

K.J. Harrison & Partners Inc increased its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 86.8% in the second quarter, HoldingsChannel reports. The firm owned 111,366 shares of the transportation company’s stock after purchasing an additional 51,759 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 1.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 16th biggest holding. K.J. Harrison & Partners Inc’s holdings in Canadian Pacific Kansas City were worth $9,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prosperity Bancshares Inc purchased a new position in Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth about $29,000. McMillan Office Inc. purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at about $31,000. Wealth Watch Advisors INC purchased a new position in Canadian Pacific Kansas City during the 3rd quarter valued at about $36,000. Finally, Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth about $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CP shares. Evercore set a $99.00 price objective on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Argus set a $105.00 price objective on Canadian Pacific Kansas City in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $93.76 on Tuesday. The stock has a market cap of $82.36 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.83 and a beta of 1.10. The firm’s 50-day moving average is $89.79 and its 200 day moving average is $85.65. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $94.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. Canadian Pacific Kansas City’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.268 per share. The ex-dividend date is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is presently 25.08%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.