IMS Capital Management Purchases New Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

IMS Capital Management acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,710 shares of the transportation company’s stock, valued at approximately $532,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Canadian Pacific Kansas City by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after acquiring an additional 588,701 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Canadian Pacific Kansas City by 2.5% in the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after purchasing an additional 532,303 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after purchasing an additional 533,792 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Canadian Pacific Kansas City by 5.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after buying an additional 723,188 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its position in shares of Canadian Pacific Kansas City by 1.8% during the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after buying an additional 243,210 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CP. Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They issued an “overweight” rating and a $90.00 target price on the stock. Jefferies Financial Group lowered 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 research report on Wednesday, July 17th. Evercore ISI increased their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Barclays lifted their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Sanford C. Bernstein boosted their price objective on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.59.

Canadian Pacific Kansas City Price Performance

CP stock opened at $85.54 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. The company’s 50-day moving average is $82.39 and its 200-day moving average is $82.30. The stock has a market capitalization of $79.81 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58.

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

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced 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 payout ratio is presently 17.31%.

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.