Canadian Pacific Kansas City (NYSE:CP) Sees Large Volume Increase – Here’s What Happened

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) shares saw an uptick in trading volume on Thursday . 5,660,323 shares were traded during trading, an increase of 109% from the previous session’s volume of 2,704,150 shares.The stock last traded at $88.0540 and had previously closed at $88.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce upped their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Canadian Pacific Kansas City from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Argus set a $105.00 price target on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 16th. Susquehanna increased their price target on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Canadian Pacific Kansas City Trading Down 0.6%

The business has a 50 day moving average of $91.43 and a two-hundred day moving average of $87.29. The firm has a market cap of $77.08 billion, a P/E ratio of 28.21, a PEG ratio of 1.83 and a beta of 1.12. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts predict that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is presently 24.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Canadian Pacific Kansas City by 3.8% during the second quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company’s stock worth $304,000 after buying an additional 130 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Canadian Pacific Kansas City by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,516 shares of the transportation company’s stock valued at $305,000 after purchasing an additional 134 shares during the last quarter. Foster Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 3.3% during the second quarter. Foster Group Inc. now owns 4,279 shares of the transportation company’s stock worth $371,000 after purchasing an additional 137 shares during the period. Modern Wealth Management LLC raised its position in shares of Canadian Pacific Kansas City by 1.2% during the first quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company’s stock worth $950,000 after acquiring an additional 142 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its position in Canadian Pacific Kansas City by 1.2% during the 1st quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company’s stock valued at $926,000 after purchasing an additional 144 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.