K2 Principal Fund L.P. Acquires New Position in Canadian Pacific Kansas City Limited (NYSE:CP)

K2 Principal Fund L.P. acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,400 shares of the transportation company's stock, valued at approximately $1,574,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust raised its position in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company's stock valued at $31,000 after purchasing an additional 130 shares during the period. Addison Advisors LLC raised its holdings in shares of Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company's stock valued at $34,000 after buying an additional 279 shares during the period. FSA Wealth Management LLC acquired a new position in Canadian Pacific Kansas City during the 3rd quarter worth about $34,000. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City during the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC acquired a new position in Canadian Pacific Kansas City in the 3rd quarter valued at about $38,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $1.05 during midday trading on Friday, reaching $75.31. 2,604,628 shares of the stock were exchanged, compared to its average volume of 3,644,011. The company has a market capitalization of $70.29 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. Canadian Pacific Kansas City Limited has a twelve month low of $72.22 and a twelve month high of $91.58. The business's 50-day moving average price is $78.30 and its 200 day moving average price is $80.03.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Canadian Pacific Kansas City's revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 19.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CP. Bank of America reduced their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, October 11th. Sanford C. Bernstein cut their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a research report on Wednesday, October 9th. Stephens reduced their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Finally, Evercore ISI increased their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $94.88.

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.