Kornitzer Capital Management Inc. KS Raises Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Kornitzer Capital Management Inc. KS increased its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,751 shares of the transportation company’s stock after buying an additional 1,564 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Canadian Pacific Kansas City were worth $7,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirova US LLC bought a new stake in Canadian Pacific Kansas City in the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after purchasing an additional 1,678,784 shares during the period. Cantillon Capital Management LLC raised its holdings in Canadian Pacific Kansas City by 49.1% during the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after buying an additional 1,174,200 shares during the period. Wulff Hansen & CO. lifted its position in Canadian Pacific Kansas City by 8,261.4% in the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after buying an additional 932,216 shares during the last quarter. Finally, AGF Management Ltd. boosted its stake in Canadian Pacific Kansas City by 86.5% during the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock worth $125,094,000 after buying an additional 735,816 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $78.80 on Friday. The business’s fifty day simple moving average is $82.36 and its 200-day simple moving average is $80.94. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 12-month low of $69.08 and a 12-month high of $91.58. The company has a market cap of $73.55 billion, a PE ratio of 28.14, a PEG ratio of 2.32 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) 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 analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. Canadian Pacific Kansas City’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Analysts expect that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is presently 19.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CP shares. Evercore ISI lifted their price target on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Stephens dropped their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Barclays lifted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein dropped their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.15.

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.