Short Interest in Canadian Pacific Kansas City Limited (NYSE:CP) Grows By 33.6%

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 12,490,000 shares, an increase of 33.6% from the September 15th total of 9,350,000 shares. Based on an average daily trading volume, of 1,930,000 shares, the short-interest ratio is currently 6.5 days.

Canadian Pacific Kansas City Stock Performance

NYSE:CP traded down $0.52 during mid-day trading on Tuesday, hitting $81.37. The company’s stock had a trading volume of 1,595,654 shares, compared to its average volume of 2,103,554. The business’s fifty day moving average is $82.56 and its two-hundred day moving average is $81.82. The stock has a market cap of $75.92 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. Canadian Pacific Kansas City has a 1 year low of $68.92 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. Analysts anticipate that Canadian Pacific Kansas City will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.67%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several large investors have recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 130 shares during the period. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at approximately $32,000. Chris Bulman Inc acquired a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $35,000. ORG Partners LLC purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter worth $39,000. Finally, Tobam acquired a new position in Canadian Pacific Kansas City during the first quarter worth $51,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CP has been the subject of several recent research reports. Susquehanna boosted their price target on shares of Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays increased their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Friday. Citigroup began coverage on Canadian Pacific Kansas City in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Sanford C. Bernstein reduced their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.90.

Canadian Pacific Kansas City Company 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.