Canadian Pacific Kansas City Limited $CP Stock: Pinnacle Associates Ltd. Raises Stake

Pinnacle Associates Ltd. boosted its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 226,997 shares of the transportation company’s stock after purchasing an additional 7,516 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian Pacific Kansas City were worth $19,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at about $802,983,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Canadian Pacific Kansas City in the second quarter worth about $657,672,000. Legal & General Group Plc purchased a new stake in shares of Canadian Pacific Kansas City in the second quarter worth about $604,797,000. Jupiter Topco LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $576,687,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $542,469,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $87.26 on Wednesday. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The business has a 50-day simple moving average of $89.39 and a 200 day simple moving average of $88.04. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The stock has a market cap of $76.36 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.82 and a beta of 1.13.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.68 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be given a dividend of C$0.27 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 24.76%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a research note on Thursday, June 25th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Barclays set a $102.00 target price on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Citizens Jmp initiated coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.83.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates Canadian Pacific Kansas City (CPKC), a Class I freight railway. The company was created in 2023 through the combination of Canadian Pacific and Kansas City Southern, forming the first single-line railroad connecting Canada, the United States and Mexico.

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