Straightline Group LLC bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,099 shares of the transportation company's stock, valued at approximately $297,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $1,040,000. Renaissance Technologies LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $10,129,000. Maren Capital LLC raised its holdings in shares of Canadian Pacific Kansas City by 12.0% during the fourth quarter. Maren Capital LLC now owns 1,199,414 shares of the transportation company's stock worth $86,802,000 after purchasing an additional 128,916 shares during the last quarter. Rathbones Group PLC lifted its position in Canadian Pacific Kansas City by 12.8% during the fourth quarter. Rathbones Group PLC now owns 1,395,281 shares of the transportation company's stock valued at $100,976,000 after purchasing an additional 158,563 shares during the period. Finally, Invesco Ltd. lifted its position in Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after purchasing an additional 2,177,604 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on CP shares. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group reduced their price target on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday. Royal Bank of Canada upped their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Benchmark reaffirmed a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, January 30th. 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and a consensus target price of $93.55.
Read Our Latest Stock Report on CP
Canadian Pacific Kansas City Price Performance
Shares of NYSE:CP traded up $2.42 during trading on Friday, reaching $73.63. The stock had a trading volume of 4,606,826 shares, compared to its average volume of 2,689,768. The business has a fifty day moving average price of $74.62 and a 200-day moving average price of $76.25. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $88.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The stock has a market cap of $68.74 billion, a PE ratio of 25.39, a PEG ratio of 2.00 and a beta of 1.01.
Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.
Canadian Pacific Kansas City Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a $0.1318 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.72%. Canadian Pacific Kansas City's payout ratio is 17.93%.
Canadian Pacific Kansas City Profile
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Free Report)
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.
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