Allspring Global Investments Holdings LLC Increases Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Allspring Global Investments Holdings LLC increased its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 28.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 590,411 shares of the transportation company’s stock after buying an additional 131,759 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Canadian Pacific Kansas City worth $52,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. Norges Bank purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth about $979,890,000. TD Asset Management Inc grew its holdings in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after purchasing an additional 6,835,271 shares during the period. Legal & General Group Plc acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter worth approximately $481,016,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Canadian Pacific Kansas City by 757.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock valued at $342,191,000 after buying an additional 3,801,910 shares during the period. Finally, Meritage Group LP acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $207,850,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Up 1.7 %

CP stock opened at $78.85 on Wednesday. The firm has a fifty day moving average price of $79.56 and a two-hundred day moving average price of $82.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. Canadian Pacific Kansas City Limited has a 1-year low of $68.92 and a 1-year high of $91.58. The firm has a market cap of $73.56 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.24 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.14 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. Canadian Pacific Kansas City’s payout ratio is currently 17.63%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James raised their target price on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Wells Fargo & Company started coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective on the stock. Bank of America lowered their target price on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group assumed coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Hold” and an average price target of $96.32.

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.