Canadian Pacific Kansas City (NYSE:CP) Sees Unusually-High Trading Volume After Dividend Announcement

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw unusually-high trading volume on Monday after the company announced a dividend. Approximately 5,018,873 shares were traded during trading, an increase of 54% from the previous session’s volume of 3,257,531 shares.The stock last traded at $77.17 and had previously closed at $79.60.

The newly announced dividend which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.1318 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.70%. Canadian Pacific Kansas City’s payout ratio is 18.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CP shares. Bank of America reduced their target price on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada raised their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. StockNews.com lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Citigroup raised their price target on Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.45.

Canadian Pacific Kansas City Stock Performance

The company’s 50-day moving average price is $75.40 and its 200 day moving average price is $78.95. The stock has a market capitalization of $69.84 billion, a PE ratio of 25.80, a PEG ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. On average, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Canadian Pacific Kansas City by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock valued at $750,046,000 after buying an additional 381,594 shares in the last quarter. Franklin Resources Inc. boosted its stake in Canadian Pacific Kansas City by 9.7% during the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock worth $501,219,000 after acquiring an additional 537,418 shares in the last quarter. Fiera Capital Corp grew its holdings in Canadian Pacific Kansas City by 1.9% in the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock worth $497,918,000 after purchasing an additional 107,183 shares during the period. Rothschild & Co Wealth Management UK Ltd increased its stake in shares of Canadian Pacific Kansas City by 1.7% during the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,094,113 shares of the transportation company’s stock valued at $368,661,000 after purchasing an additional 85,542 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 7.8% during the third quarter. Geode Capital Management LLC now owns 4,332,357 shares of the transportation company’s stock valued at $373,540,000 after purchasing an additional 313,298 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

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.