Addenda Capital Inc. Increases Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Addenda Capital Inc. increased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 849,588 shares of the transportation company’s stock after purchasing an additional 12,446 shares during the quarter. Canadian Pacific Kansas City makes up about 2.8% of Addenda Capital Inc.’s investment portfolio, making the stock its 10th biggest holding. Addenda Capital Inc. owned 0.09% of Canadian Pacific Kansas City worth $61,485,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after purchasing an additional 1,678,784 shares in the last quarter. National Bank of Canada FI increased its holdings in Canadian Pacific Kansas City by 84.4% during the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after buying an additional 1,348,474 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Canadian Pacific Kansas City during the third quarter worth $63,179,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Canadian Pacific Kansas City by 39.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock valued at $172,132,000 after acquiring an additional 565,783 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of 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 period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CP shares. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI lifted their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein decreased their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Finally, Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.63.

Canadian Pacific Kansas City Trading Up 0.3 %

Shares of CP stock opened at $74.80 on Tuesday. Canadian Pacific Kansas City Limited has a fifty-two week low of $70.89 and a fifty-two week high of $91.58. The stock’s fifty day moving average price is $74.69 and its two-hundred day moving average price is $79.16. 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 company has a market cap of $69.83 billion, a PE ratio of 26.71, a P/E/G ratio of 1.89 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released 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). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. Equities analysts predict that Canadian Pacific Kansas City Limited will post 3.02 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.75%. 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 19.29%.

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.