Kornitzer Capital Management Inc. KS Raises Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Kornitzer Capital Management Inc. KS increased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,187 shares of the transportation company’s stock after buying an additional 658 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Canadian Pacific Kansas City were worth $7,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CP. LRI Investments LLC acquired a new stake in shares of Canadian Pacific Kansas City during the first quarter worth $32,000. ORG Partners LLC acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter worth $39,000. Tobam acquired a new position in Canadian Pacific Kansas City during the first quarter valued at $51,000. Partnership Wealth Management LLC purchased a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $52,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Canadian Pacific Kansas City in the first quarter valued at $76,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Down 1.1 %

CP opened at $83.52 on Friday. Canadian Pacific Kansas City Limited has a 1-year low of $68.92 and a 1-year high of $91.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. The firm has a market capitalization of $77.93 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The company’s 50 day simple moving average is $80.95 and its two-hundred day simple moving average is $82.55.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. Canadian Pacific Kansas City’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Analysts expect that Canadian Pacific Kansas City Limited will post 3.09 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $0.1373 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.66%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CP. Sanford C. Bernstein boosted their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a report on Monday, July 8th. Susquehanna reiterated a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Barclays cut their target price 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. Finally, Wells Fargo & Company assumed coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.36.

Canadian Pacific Kansas City 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.