Cibc World Market Inc. Buys 1,517,323 Shares of Canadian Pacific Kansas City Limited $CP

Cibc World Market Inc. raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 21.9% in the 4th quarter, Holdings Channel reports. The firm owned 8,433,042 shares of the transportation company’s stock after acquiring an additional 1,517,323 shares during the period. Canadian Pacific Kansas City makes up 1.0% of Cibc World Market Inc.’s investment portfolio, making the stock its 21st largest holding. Cibc World Market Inc.’s holdings in Canadian Pacific Kansas City were worth $620,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CP. Intech Investment Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 16.0% in the 1st quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock valued at $1,493,000 after acquiring an additional 2,940 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. Sivia Capital Partners LLC bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $206,000. Prudential Financial Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 8.7% in the 2nd quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company’s stock valued at $411,000 after acquiring an additional 415 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 39.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 369 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

CP has been the subject of a number of analyst reports. Royal Bank Of Canada lowered their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Citigroup increased their price objective on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Sanford C. Bernstein increased their price objective on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $89.16 on Thursday. The firm has a market cap of $79.10 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The firm’s 50 day simple moving average is $83.96 and its 200-day simple moving average is $79.27. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $91.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be given a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City’s dividend payout ratio is 20.68%.

Canadian Pacific Kansas City Profile

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.