Ashton Thomas Private Wealth LLC Makes New $61,000 Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 774 shares of the transportation company’s stock, valued at approximately $61,000.

A number of other hedge funds also recently made changes to their positions in the stock. LRI Investments LLC bought a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $32,000. Chris Bulman Inc bought a new position in Canadian Pacific Kansas City in the 2nd quarter worth approximately $35,000. ORG Partners LLC purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter valued at approximately $39,000. Tobam bought a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at approximately $51,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth $76,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $86.32 on Monday. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The firm has a market cap of $80.54 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.45 and a beta of 0.96. The business’s fifty day simple moving average is $81.63 and its two-hundred day simple moving average is $82.48. 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 (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion during 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%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Analysts predict that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.64%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CP shares. Barclays cut their target price on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Wells Fargo & Company initiated coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Sanford C. Bernstein boosted their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Jefferies Financial Group cut their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Stifel Nicolaus upped their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.36.

Canadian Pacific Kansas City 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.