Short Interest in Canadian Pacific Kansas City Limited (NYSE:CP) Increases By 21.9%

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 9,350,000 shares, a growth of 21.9% from the August 31st total of 7,670,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CP. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Canadian Pacific Kansas City by 757.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock worth $342,191,000 after acquiring an additional 3,801,910 shares in the last quarter. Meritage Group LP bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $207,850,000. Mirova US LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after acquiring an additional 1,678,784 shares in the last quarter. Finally, Cantillon Capital Management LLC lifted its position in shares of Canadian Pacific Kansas City by 49.1% during the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after acquiring an additional 1,174,200 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CP shares. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price for the company. Jefferies Financial Group reduced their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Barclays upped their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Susquehanna reissued a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.59.

Canadian Pacific Kansas City Trading Up 0.1 %

Shares of CP stock traded up $0.10 during trading hours on Monday, hitting $85.54. 2,093,305 shares of the company’s stock traded hands, compared to its average volume of 2,104,618. The stock has a market cap of $79.81 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The stock’s 50 day simple moving average is $82.35 and its 200 day simple moving average is $82.33. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 12 month low of $68.92 and a 12 month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company earned $0.62 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian Pacific Kansas City will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.31%.

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.