CI Investments Inc. Reduces Stock Position in Canadian Pacific Kansas City Limited $CP

CI Investments Inc. lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 735,691 shares of the transportation company’s stock after selling 9,179 shares during the period. CI Investments Inc. owned 0.08% of Canadian Pacific Kansas City worth $57,869,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CP. First Trust Advisors LP raised its stake in shares of Canadian Pacific Kansas City by 26.8% during the first quarter. First Trust Advisors LP now owns 10,336 shares of the transportation company’s stock valued at $813,000 after acquiring an additional 2,187 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $9,046,000. Oslo Pensjonsforsikring AS bought a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $392,000. Andra AP fonden purchased a new position in Canadian Pacific Kansas City during the 1st quarter valued at about $6,892,000. Finally, Madison Asset Management LLC increased its holdings in Canadian Pacific Kansas City by 7.5% during the 1st quarter. Madison Asset Management LLC now owns 26,428 shares of the transportation company’s stock valued at $2,079,000 after purchasing an additional 1,849 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

CP has been the subject of a number of recent analyst reports. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen cut Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Saturday. Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Weiss Ratings upgraded Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Citigroup raised their price target on Canadian Pacific Kansas City from $97.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.91.

Canadian Pacific Kansas City Trading Down 0.4%

NYSE CP opened at $91.25 on Wednesday. The firm has a market capitalization of $80.76 billion, a PE ratio of 28.16, a P/E/G ratio of 1.83 and a beta of 1.10. The stock’s 50 day moving average is $88.49 and its 200 day moving average is $83.07. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $93.95. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.Canadian Pacific Kansas City’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid a $0.268 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 24.07%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.