1832 Asset Management L.P. Purchases 723,188 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

1832 Asset Management L.P. raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,821,347 shares of the transportation company’s stock after acquiring an additional 723,188 shares during the quarter. Canadian Pacific Kansas City makes up approximately 0.9% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 8th largest position. 1832 Asset Management L.P. owned 1.48% of Canadian Pacific Kansas City worth $1,088,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CP. 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 shares of Canadian Pacific Kansas City in the second quarter worth about $35,000. ORG Partners LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter worth about $39,000. Tobam bought a new position in Canadian Pacific Kansas City in the 1st quarter valued at approximately $51,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Canadian Pacific Kansas City in the 2nd quarter valued at approximately $61,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $85.86 on Friday. The company has a market cap of $80.11 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $82.16 and a 200-day moving average of $82.53.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

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

Analyst Upgrades and Downgrades

CP has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Susquehanna reiterated a “neutral” rating and issued a $80.00 price objective on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of 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. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Finally, Sanford C. Bernstein raised their price objective on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $96.36.

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.