Polar Asset Management Partners Inc. Takes $1.47 Million Position in Canadian Pacific Kansas City Limited $CP

Polar Asset Management Partners Inc. bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 1st quarter, Holdings Channel.com reports. The fund bought 20,900 shares of the transportation company’s stock, valued at approximately $1,468,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Insight Partners LLC increased its stake in shares of Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company’s stock valued at $2,858,000 after buying an additional 143 shares during the period. Davidson Trust Co. increased its stake in shares of Canadian Pacific Kansas City by 3.2% in the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company’s stock valued at $327,000 after buying an additional 144 shares during the period. Redmond Asset Management LLC increased its stake in shares of Canadian Pacific Kansas City by 0.5% in the 1st quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company’s stock valued at $2,220,000 after buying an additional 148 shares during the period. Tradewinds LLC. boosted its position in shares of Canadian Pacific Kansas City by 3.8% in the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company’s stock worth $304,000 after purchasing an additional 157 shares during the last quarter. Finally, Financial Partners Group Inc grew its stake in shares of Canadian Pacific Kansas City by 0.3% during the first quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company’s stock worth $3,464,000 after purchasing an additional 158 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CP. Stephens 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 note on Thursday, July 31st. Susquehanna reiterated a “positive” rating and issued a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Bank of America lifted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Down 0.2%

NYSE:CP opened at $76.64 on Friday. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The stock has a market cap of $70.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.15 and a beta of 1.06. The stock has a 50-day moving average price of $77.06 and a two-hundred day moving average price of $76.48.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) 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 business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City’s payout ratio is presently 20.56%.

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.