Nicholas Hoffman & Company LLC. Takes Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Nicholas Hoffman & Company LLC. acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,355 shares of the transportation company’s stock, valued at approximately $201,000.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Canadian Pacific Kansas City by 28.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 590,411 shares of the transportation company’s stock valued at $52,057,000 after buying an additional 131,759 shares during the period. Norden Group LLC purchased a new stake in Canadian Pacific Kansas City during the 1st quarter valued at $4,898,000. First Trust Direct Indexing L.P. boosted its position in Canadian Pacific Kansas City by 19.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,179 shares of the transportation company’s stock valued at $897,000 after buying an additional 1,691 shares during the period. Maryland State Retirement & Pension System boosted its position in Canadian Pacific Kansas City by 53.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 49,072 shares of the transportation company’s stock valued at $4,100,000 after buying an additional 16,995 shares during the period. Finally, Findlay Park Partners LLP boosted its position in Canadian Pacific Kansas City by 12.2% during the 1st quarter. Findlay Park Partners LLP now owns 2,609,396 shares of the transportation company’s stock valued at $230,070,000 after buying an additional 283,000 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CP. Citigroup increased their price target on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price objective 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. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their price objective for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Finally, Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.15.

Canadian Pacific Kansas City Stock Up 0.2 %

Shares of Canadian Pacific Kansas City stock opened at $78.18 on Thursday. 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 company has a 50-day moving average of $82.77 and a 200 day moving average of $81.16. The firm has a market cap of $72.97 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.21 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 1 year low of $69.08 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.72%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is 20.00%.

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.