Thrivent Financial for Lutherans Acquires 7,573 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Thrivent Financial for Lutherans lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 61.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,807 shares of the transportation company’s stock after purchasing an additional 7,573 shares during the period. Thrivent Financial for Lutherans’ holdings in Canadian Pacific Kansas City were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust lifted its stake in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 246.9% during the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock valued at $34,000 after buying an additional 279 shares during the last quarter. LRI Investments LLC bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth $35,000. Chris Bulman Inc purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter worth about $35,000. Finally, Asset Dedication LLC bought a new stake in Canadian Pacific Kansas City in the 3rd quarter valued at about $38,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CP. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Stifel Nicolaus reduced their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Barclays boosted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Citigroup cut their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Stephens decreased their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.88.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $76.62 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $79.26 and a 200-day moving average price of $80.24. The company has a market cap of $71.51 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 12-month low of $71.08 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.73%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is 19.64%.

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.