Westport Asset Management Inc. Purchases New Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Westport Asset Management Inc. acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,884 shares of the transportation company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CP. S&CO Inc. grew its position in Canadian Pacific Kansas City by 183.3% in the 3rd quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock worth $1,454,000 after purchasing an additional 11,000 shares in the last quarter. Swiss National Bank grew its holdings in shares of Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after acquiring an additional 23,000 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $11,810,000. Cetera Investment Advisers lifted its holdings in Canadian Pacific Kansas City by 272.0% during the first quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after acquiring an additional 40,380 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Canadian Pacific Kansas City in the third quarter worth $696,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock traded down $2.35 during midday trading on Tuesday, reaching $74.71. 1,665,451 shares of the stock were exchanged, compared to its average volume of 2,239,750. Canadian Pacific Kansas City Limited has a 52 week low of $69.27 and a 52 week high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The firm has a market cap of $69.73 billion, a PE ratio of 27.51, a PEG ratio of 2.27 and a beta of 0.98. The company’s fifty day moving average is $80.14 and its 200-day moving average is $80.41.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 19.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and lowered their price objective for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Bank of America dropped their target price on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Finally, Citigroup dropped their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

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.