Bank of Montreal Can Acquires 533,792 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bank of Montreal Can raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,932,768 shares of the transportation company’s stock after buying an additional 533,792 shares during the quarter. Canadian Pacific Kansas City comprises 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 22nd largest position. Bank of Montreal Can owned approximately 2.14% of Canadian Pacific Kansas City worth $1,580,556,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. LRI Investments LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth about $32,000. Chris Bulman Inc purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $35,000. ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $39,000. Tobam bought a new position in Canadian Pacific Kansas City during the 1st quarter valued at approximately $51,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Canadian Pacific Kansas City during the second quarter valued at $61,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Down 1.2 %

CP stock opened at $85.86 on Monday. The business’s 50-day moving average price is $82.16 and its 200-day moving average price is $82.49. The stock has a market cap of $80.11 billion, a P/E ratio of 27.52, a PEG ratio of 2.45 and a beta of 0.96. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month 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.

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, beating the consensus estimate of $0.74 by $0.31. The firm had revenue of $3.60 billion for 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 revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced 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. 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 is currently 17.31%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Susquehanna restated a “neutral” rating and issued a $80.00 price target on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. 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 raised their price target 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. Finally, Barclays decreased their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Canadian Pacific Kansas City presently 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.