Bornite Capital Management LP Invests $16.51 Million in Canadian Pacific Kansas City Limited (NYSE:CP)

Bornite Capital Management LP bought a new position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 228,100 shares of the transportation company's stock, valued at approximately $16,508,000. Canadian Pacific Kansas City accounts for approximately 2.2% of Bornite Capital Management LP's holdings, making the stock its 24th largest position.

A number of other hedge funds also recently added to or reduced their stakes in CP. Vanguard Group Inc. grew its holdings in Canadian Pacific Kansas City by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company's stock worth $2,662,978,000 after buying an additional 491,966 shares in the last quarter. Norges Bank bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at about $914,090,000. JPMorgan Chase & Co. grew its holdings in Canadian Pacific Kansas City by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company's stock worth $750,046,000 after acquiring an additional 381,594 shares during the period. Franklin Resources Inc. lifted its holdings in Canadian Pacific Kansas City by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company's stock valued at $501,219,000 after acquiring an additional 537,418 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 27.2% in the 4th quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company's stock worth $404,849,000 after purchasing an additional 1,179,108 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP traded up $0.43 during mid-day trading on Wednesday, hitting $67.58. 1,982,832 shares of the stock traded hands, compared to its average volume of 2,630,217. The firm has a 50 day simple moving average of $75.01 and a two-hundred day simple moving average of $76.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market cap of $63.10 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. Canadian Pacific Kansas City Limited has a twelve month low of $65.98 and a twelve month high of $89.26.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.1318 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.78%. Canadian Pacific Kansas City's payout ratio is presently 17.93%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Loop Capital lowered shares of Canadian Pacific Kansas City from a "buy" rating to a "sell" rating in a research report on Monday, February 3rd. Argus set a $90.00 price target on Canadian Pacific Kansas City in a research note on Wednesday, March 26th. Susquehanna dropped their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a "positive" rating on the stock in a report on Thursday, March 27th. Citigroup reduced their target price on Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday. Finally, StockNews.com downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Wednesday, December 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and an average target price of $93.55.

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.