Amundi Acquires 41,253 Shares of Canadian Pacific Kansas City Limited $CP

Amundi lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.1% in the first quarter, Holdings Channel reports. The fund owned 1,363,989 shares of the transportation company’s stock after purchasing an additional 41,253 shares during the quarter. Amundi’s holdings in Canadian Pacific Kansas City were worth $96,134,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Canadian Pacific Kansas City by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company’s stock worth $74,807,000 after purchasing an additional 31,508 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Canadian Pacific Kansas City by 70.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company’s stock worth $421,000 after purchasing an additional 2,467 shares during the last quarter. CX Institutional bought a new stake in Canadian Pacific Kansas City in the first quarter worth about $61,000. Janney Montgomery Scott LLC lifted its stake in Canadian Pacific Kansas City by 28.8% in the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company’s stock worth $7,106,000 after purchasing an additional 22,606 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Canadian Pacific Kansas City by 1.0% in the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company’s stock worth $2,012,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CP. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Stephens raised their price objective 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. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Citigroup raised their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. One equities research 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $76.64 on Friday. The firm has a market cap of $70.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.15 and a beta of 1.06. The company’s 50 day moving average is $77.06 and its 200 day moving average is $76.49. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72.

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 (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City’s dividend payout ratio 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.