Tuttle Capital Management LLC Has $662,000 Position in Canadian Pacific Kansas City Limited $CP

Tuttle Capital Management LLC grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.9% in the second quarter, Holdings Channel.com reports. The firm owned 8,355 shares of the transportation company’s stock after purchasing an additional 1,086 shares during the period. Canadian Pacific Kansas City comprises approximately 2.7% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Tuttle Capital Management LLC’s holdings in Canadian Pacific Kansas City were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Canadian Pacific Kansas City by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company’s stock worth $2,606,624,000 after acquiring an additional 364,515 shares during the period. TD Asset Management Inc increased its stake in Canadian Pacific Kansas City by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock valued at $1,665,106,000 after buying an additional 136,970 shares during the period. Causeway Capital Management LLC lifted its position in Canadian Pacific Kansas City by 11.5% in the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock worth $1,207,605,000 after buying an additional 1,778,984 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock valued at $1,192,471,000 after buying an additional 6,337,312 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Canadian Pacific Kansas City by 6.5% during the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company’s stock valued at $1,147,220,000 after acquiring an additional 999,522 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 0.2%

Shares of CP opened at $76.21 on Wednesday. The stock’s 50-day moving average price is $75.40 and its 200 day moving average price is $76.57. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $69.12 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 2.15 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) 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 the consensus estimate 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City’s payout ratio is presently 20.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CP. Citigroup reduced their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna cut their price objective on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating on the stock in a research report on Thursday, September 25th. Barclays set a $90.00 target price on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. 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, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Canadian Pacific Kansas City Company 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.