Vanguard Group Inc. Buys 588,701 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Vanguard Group Inc. lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,926,548 shares of the transportation company’s stock after acquiring an additional 588,701 shares during the period. Vanguard Group Inc. owned 3.74% of Canadian Pacific Kansas City worth $3,079,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Independence Bank of Kentucky acquired a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at about $43,000. McGlone Suttner Wealth Management Inc. acquired a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $45,000. Tobam bought a new position in Canadian Pacific Kansas City in the first quarter worth approximately $51,000. Rational Advisors LLC acquired a new stake in Canadian Pacific Kansas City in the first quarter valued at approximately $52,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $52,000. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CP. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Barclays reduced their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Susquehanna reissued a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 25th. Stifel Nicolaus raised their price target on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Raymond James boosted their price objective on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.70.

Canadian Pacific Kansas City Price Performance

NYSE CP traded up $0.28 during trading hours on Friday, hitting $83.56. The company had a trading volume of 1,418,815 shares, compared to its average volume of 2,005,749. The firm has a 50 day simple moving average of $79.68 and a 200 day simple moving average of $82.51. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The firm has a market capitalization of $77.97 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.16 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio is 17.63%.

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.