Swiss National Bank Buys 23,000 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Swiss National Bank grew its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,820,893 shares of the transportation company’s stock after purchasing an additional 23,000 shares during the quarter. Swiss National Bank’s holdings in Canadian Pacific Kansas City were worth $241,645,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. LRI Investments LLC bought a new position in Canadian Pacific Kansas City in the 1st quarter worth $32,000. Addison Advisors LLC raised its holdings in Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after purchasing an additional 279 shares in the last quarter. Chris Bulman Inc bought a new position in Canadian Pacific Kansas City in the 2nd quarter worth $35,000. Finally, Asset Dedication LLC bought a new position in Canadian Pacific Kansas City in the 3rd quarter worth $38,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $73.99 on Friday. The firm’s 50-day moving average price is $81.44 and its 200-day moving average price is $80.64. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The company has a market cap of $69.06 billion, a PE ratio of 26.43, a PEG ratio of 2.20 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52-week low of $69.27 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations 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 revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Analyst Upgrades and Downgrades

CP has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI upped their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein reduced their target price on shares of 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. Stifel Nicolaus reduced their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their target price for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.68.

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.