Covea Finance Makes New Investment in Canadian Pacific Kansas City Limited $CP

Covea Finance bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 2nd quarter, Holdings Channel reports. The firm bought 53,194 shares of the transportation company’s stock, valued at approximately $4,208,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CP. North Capital Inc. acquired a new position in Canadian Pacific Kansas City during the first quarter worth about $27,000. Cornerstone Planning Group LLC lifted its stake in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock valued at $28,000 after buying an additional 256 shares during the period. Cheviot Value Management LLC purchased a new position in Canadian Pacific Kansas City during the first quarter worth approximately $30,000. Bernard Wealth Management Corp. purchased a new position in Canadian Pacific Kansas City during the fourth quarter worth approximately $31,000. Finally, Hexagon Capital Partners LLC raised its stake in Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock worth $35,000 after purchasing an additional 164 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CP. Citigroup increased their price target on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Barclays increased their price target on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Susquehanna reaffirmed a “positive” rating and set a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Stephens increased their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.30.

Canadian Pacific Kansas City Price Performance

CP opened at $74.59 on Tuesday. The company has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $76.35. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.12 and a beta of 1.06. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $86.84. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results 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). The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. Canadian Pacific Kansas City’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be issued 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 an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.56%.

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.