Bowie Capital Management LLC Acquires 113,929 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bowie Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 30.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 488,127 shares of the transportation company’s stock after buying an additional 113,929 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 2.3% of Bowie Capital Management LLC’s holdings, making the stock its 20th biggest holding. Bowie Capital Management LLC owned approximately 0.05% of Canadian Pacific Kansas City worth $38,430,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Accretive Wealth Partners LLC lifted its position in Canadian Pacific Kansas City by 1.5% in the fourth quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock worth $753,000 after buying an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Canadian Pacific Kansas City by 45.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,325 shares of the transportation company’s stock worth $185,000 after purchasing an additional 726 shares during the period. Lincoln National Corp boosted its stake in shares of Canadian Pacific Kansas City by 2.7% during the 4th quarter. Lincoln National Corp now owns 7,674 shares of the transportation company’s stock worth $607,000 after purchasing an additional 204 shares during the period. Montag A & Associates Inc. grew its holdings in Canadian Pacific Kansas City by 20.8% during the 4th quarter. Montag A & Associates Inc. now owns 4,359 shares of the transportation company’s stock valued at $345,000 after purchasing an additional 750 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in Canadian Pacific Kansas City in the 4th quarter worth about $346,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

CP has been the subject of several recent analyst reports. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Barclays dropped their price objective on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Jefferies Financial Group reduced their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Sanford C. Bernstein boosted their target price on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Stifel Nicolaus raised their price target on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $82.85 on Friday. The firm has a market cap of $77.30 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.36 and a beta of 0.96. The company’s 50 day moving average is $81.03 and its 200 day moving average is $82.52. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. Canadian Pacific Kansas City’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.09 EPS 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, October 28th. Investors of record on Friday, September 27th will be issued a dividend of $0.1373 per share. This represents a $0.55 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is 17.31%.

About Canadian Pacific Kansas City

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.