Saranac Partners Ltd Makes New Investment in Canadian Pacific Kansas City Limited $CP

Saranac Partners Ltd bought a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 4th quarter, HoldingsChannel reports. The firm bought 80,498 shares of the transportation company’s stock, valued at approximately $5,973,000. Canadian Pacific Kansas City comprises approximately 2.3% of Saranac Partners Ltd’s investment portfolio, making the stock its 21st largest position.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Canadian Pacific Kansas City by 1.3% during the third quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company’s stock worth $2,884,826,000 after purchasing an additional 510,633 shares during the period. Invesco Ltd. grew its position in Canadian Pacific Kansas City by 18.3% during the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after purchasing an additional 3,585,030 shares in the last quarter. CIBC Asset Management Inc increased its stake in Canadian Pacific Kansas City by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 8,352,370 shares of the transportation company’s stock valued at $623,937,000 after buying an additional 698,705 shares during the period. Legal & General Group Plc lifted its position in Canadian Pacific Kansas City by 6.1% in the 3rd quarter. Legal & General Group Plc now owns 7,193,408 shares of the transportation company’s stock worth $535,836,000 after buying an additional 413,042 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in shares of Canadian Pacific Kansas City by 3.1% during the 3rd quarter. Fiera Capital Corp now owns 5,864,045 shares of the transportation company’s stock valued at $436,581,000 after buying an additional 178,661 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $86.13 on Wednesday. The firm has a market cap of $76.46 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09. The company’s fifty day moving average is $82.33 and its 200-day moving average is $77.92. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $89.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. Equities analysts expect that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a $0.268 dividend. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City’s payout ratio is presently 20.68%.

Analysts Set New Price Targets

Several research firms have recently commented on CP. Royal Bank Of Canada lowered their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Scotiabank lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Evercore reduced their price objective on Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, January 29th. Citigroup boosted their target price on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, ATB Cormark Capital Markets lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $95.89.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.