Blue Zone Wealth Advisors LLC Boosts Stake in Canadian Pacific Kansas City Limited $CP

Blue Zone Wealth Advisors LLC increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 79,724 shares of the transportation company’s stock after purchasing an additional 2,767 shares during the period. Canadian Pacific Kansas City makes up approximately 1.6% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest position. Blue Zone Wealth Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $6,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CP. Invesco Ltd. boosted its position in shares of Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Canadian Pacific Kansas City by 70.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock worth $652,936,000 after purchasing an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $126,928,000. Causeway Capital Management LLC boosted its position in shares of Canadian Pacific Kansas City by 11.5% during the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock worth $1,207,605,000 after purchasing an additional 1,778,984 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Canadian Pacific Kansas City by 44.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company’s stock worth $351,723,000 after purchasing an additional 1,516,684 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $74.90 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65. The firm’s fifty day simple moving average is $75.34 and its 200-day simple moving average is $76.47. The firm has a market capitalization of $67.93 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.14 and a beta of 1.08. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS 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, October 27th. Stockholders of record on Friday, September 26th will be issued a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CP shares. Susquehanna decreased their price target on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating for the company in a research report on Thursday, September 25th. Barclays set a $90.00 price target on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Wednesday. Wall Street Zen downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, Citigroup upped their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.85.

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.