Canadian Pacific Kansas City Limited (NYSE:CP) Stock Position Raised by Maryland State Retirement & Pension System
Maryland State Retirement & Pension System increased its stake in Canadian Pacific Kansas City Limited (NYSE:CP) by 58.7% in Q1, owning 87,498 shares valued at $6.14 million. Other institutional investors also raised their positions, with Causeway Capital Management increasing its holdings by 76.5%. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $92.30. The stock opened at $75.40, with a market cap of $69.21 billion and a P/E ratio of 23.49.
Maryland State Retirement & Pension System boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 58.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,498 shares of the transportation company's stock after acquiring an additional 32,355 shares during the period. Maryland State Retirement & Pension System's holdings in Canadian Pacific Kansas City were worth $6,139,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently bought and sold shares of the company. Causeway Capital Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after buying an additional 6,687,770 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Canadian Pacific Kansas City by 70.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock valued at $652,936,000 after acquiring an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Canadian Pacific Kansas City during the 1st quarter valued at $126,928,000. Allspring Global Investments Holdings LLC boosted its position in Canadian Pacific Kansas City by 44.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after acquiring an additional 1,516,684 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Canadian Pacific Kansas City by 11.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after purchasing an additional 1,262,913 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CP has been the subject of a number of recent analyst reports. Stephens increased 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 research report on Thursday, July 31st. Evercore ISI lowered their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Susquehanna reiterated a "positive" rating and set a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada cut their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.30.
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Read Our Latest Stock Analysis on CP
Canadian Pacific Kansas City Price Performance
CP opened at $75.40 on Friday. The firm has a market capitalization of $69.21 billion, a P/E ratio of 23.49, a PEG ratio of 2.15 and a beta of 1.06. The stock has a fifty day moving average of $79.31 and a 200-day moving average of $76.94. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72.
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Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. Equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.
Canadian Pacific Kansas City Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio is 20.56%.
About Canadian Pacific Kansas City
(Free Report)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.
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