LGT Group Foundation Purchases 33,871 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

LGT Group Foundation grew its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 114.5% in the second quarter, HoldingsChannel.com reports. The firm owned 63,456 shares of the transportation company’s stock after acquiring an additional 33,871 shares during the period. LGT Group Foundation’s holdings in Canadian Pacific Kansas City were worth $4,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CP. Vanguard Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 1.7% in the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after buying an additional 588,701 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Canadian Pacific Kansas City by 2.5% in the first quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after buying an additional 532,303 shares in the last quarter. Veritas Asset Management LLP lifted its holdings in shares of Canadian Pacific Kansas City by 1.8% in the fourth quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after buying an additional 243,210 shares in the last quarter. Norges Bank purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth $979,890,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Canadian Pacific Kansas City by 4.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock worth $948,585,000 after buying an additional 507,177 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Trading Up 2.2 %

Shares of CP opened at $84.65 on Tuesday. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The company has a market cap of $79.00 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $81.17 and its 200-day simple moving average is $82.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.95%.

Analyst Ratings Changes

Several equities analysts have recently commented on CP shares. Jefferies Financial Group lowered their target price on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 target price on the stock. Susquehanna reaffirmed a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Finally, Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.36.

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.