Seven Eight Capital LP Takes Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Seven Eight Capital LP bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,400 shares of the transportation company’s stock, valued at approximately $1,606,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CP. LRI Investments LLC acquired a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $32,000. Chris Bulman Inc acquired a new position in Canadian Pacific Kansas City in the second quarter valued at approximately $35,000. ORG Partners LLC bought a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $39,000. Tobam acquired a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $51,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $86.04 on Thursday. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The company’s 50 day moving average price is $82.04 and its two-hundred day moving average price is $82.52. The stock has a market cap of $80.28 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.45 and a beta of 0.96. 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 issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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%. Canadian Pacific Kansas City’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given 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 Analyst Weigh In

A number of research firms recently issued reports on CP. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price on the stock. Sanford C. Bernstein increased 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 report on Monday, July 8th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their price target 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. Finally, Jefferies Financial Group reduced their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus 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.