Northern Trust Corp Raises Stock Holdings in Canadian Pacific Kansas City Limited $CP

Northern Trust Corp boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 19.0% during the first quarter, HoldingsChannel.com reports. The firm owned 2,910,321 shares of the transportation company’s stock after purchasing an additional 465,021 shares during the period. Northern Trust Corp’s holdings in Canadian Pacific Kansas City were worth $204,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CP. Invesco Ltd. boosted its position in Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Canadian Pacific Kansas City by 70.4% in the first 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $126,928,000. Allspring Global Investments Holdings LLC lifted its position in shares of Canadian Pacific Kansas City by 44.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company’s stock valued at $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position 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 valued at $899,805,000 after acquiring an additional 1,262,913 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 1.4%

Shares of NYSE CP opened at $73.2640 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $77.88 and a 200-day simple moving average of $76.63. The stock has a market capitalization of $66.94 billion, a PE ratio of 22.82, a PEG ratio of 2.08 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CP shares. Evercore ISI decreased their target price on Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Stephens raised their target price on 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. Bank of America raised their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 16th. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Citigroup raised their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.30.

Canadian Pacific Kansas City Profile

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.