Westpac Banking Corp purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP – Get Rating) (TSE:CP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,717 shares of the transportation company's stock, valued at approximately $1,993,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BDO Wealth Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 928.6% during the fourth quarter. BDO Wealth Advisors LLC now owns 360 shares of the transportation company's stock valued at $27,000 after buying an additional 325 shares during the last quarter. Romano Brothers AND Company acquired a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at about $29,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the third quarter valued at about $29,000. WJ Interests LLC acquired a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at about $43,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the third quarter valued at about $50,000. 72.31% of the stock is owned by institutional investors.
Get Canadian Pacific Kansas City alerts:Analyst Ratings Changes
A number of research analysts have recently weighed in on CP shares. Wells Fargo & Company increased their target price on shares of Canadian Pacific Kansas City from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 1st. Scotiabank upgraded shares of Canadian Pacific Kansas City from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 15th. CIBC reduced their target price on shares of Canadian Pacific Kansas City from C$128.00 to C$125.00 in a report on Wednesday, February 1st. Stifel Nicolaus cut their price target on shares of Canadian Pacific Kansas City from $78.00 to $75.00 in a report on Tuesday, April 18th. Finally, BMO Capital Markets started coverage on shares of Canadian Pacific Kansas City in a research report on Tuesday, April 18th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and a consensus target price of $89.21.
Canadian Pacific Kansas City Stock Performance
Shares of CP stock opened at $79.33 on Tuesday. The company has a 50 day moving average price of $77.05 and a 200-day moving average price of $76.98. Canadian Pacific Kansas City Limited has a 52 week low of $65.17 and a 52 week high of $82.96. The firm has a market capitalization of $73.85 billion, a PE ratio of 26.27, a P/E/G ratio of 2.07 and a beta of 1.02. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.
Canadian Pacific Kansas City (NYSE:CP – Get Rating) (TSE:CP) last announced its earnings results on Tuesday, January 31st. The transportation company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.02. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. Canadian Pacific Kansas City had a net margin of 40.22% and a return on equity of 9.56%. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.33 earnings per share for the current year.
Canadian Pacific Kansas City Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be given a $0.141 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. Canadian Pacific Kansas City's payout ratio is currently 18.21%.
About Canadian Pacific Kansas City
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Canadian Pacific Kansas City Ltd. provides rail freight transportation services. It offers rail services linking Canada, the United States and Mexico. The company was founded on June 22, 2001 and is headquartered in Calgary, Canada.
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