18,600 Shares in Canadian Pacific Kansas City Limited (NYSE:CP) Purchased by Vestcor Inc

Vestcor Inc bought a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,600 shares of the transportation company’s stock, valued at approximately $1,306,000.

A number of other hedge funds have also recently modified their holdings of the business. Summit Financial LLC boosted its holdings in Canadian Pacific Kansas City by 9.1% during the 4th quarter. Summit Financial LLC now owns 5,514 shares of the transportation company’s stock valued at $399,000 after acquiring an additional 462 shares during the period. Geode Capital Management LLC boosted its stake in shares of Canadian Pacific Kansas City by 27.2% during the fourth quarter. Geode Capital Management LLC now owns 5,511,465 shares of the transportation company’s stock valued at $404,849,000 after purchasing an additional 1,179,108 shares during the period. OneAscent Financial Services LLC grew its holdings in shares of Canadian Pacific Kansas City by 4.7% in the fourth quarter. OneAscent Financial Services LLC now owns 3,745 shares of the transportation company’s stock worth $271,000 after purchasing an additional 167 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Canadian Pacific Kansas City during the 4th quarter valued at about $2,329,000. Finally, DF Dent & Co. Inc. boosted its position in Canadian Pacific Kansas City by 3.7% in the 4th quarter. DF Dent & Co. Inc. now owns 9,528 shares of the transportation company’s stock valued at $690,000 after buying an additional 342 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 0.9%

Shares of NYSE:CP opened at $72.89 on Friday. The business’s 50-day moving average is $79.74 and its 200 day moving average is $76.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.81 and a quick ratio of 0.70. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The firm has a market capitalization of $66.91 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.06 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 28.05%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s payout ratio is presently 20.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CP. Stifel Nicolaus reduced their target price on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Citigroup raised their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, Jefferies Financial Group cut their target price on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $92.30.

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.