Canadian Pacific Kansas City Limited (NYSE:CP) Sees Significant Increase in Short Interest

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 8,630,000 shares, a growth of 26.2% from the October 15th total of 6,840,000 shares. Based on an average daily trading volume, of 2,090,000 shares, the days-to-cover ratio is presently 4.1 days.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,332,357 shares of the transportation company’s stock worth $373,540,000 after purchasing an additional 313,298 shares during the period. Conway Capital Management Inc. purchased a new position in shares of Canadian Pacific Kansas City in the 3rd quarter worth approximately $1,314,000. Executive Wealth Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 6.3% in the 3rd quarter. Executive Wealth Management LLC now owns 35,819 shares of the transportation company’s stock worth $3,064,000 after purchasing an additional 2,113 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of Canadian Pacific Kansas City by 4.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 142,794 shares of the transportation company’s stock worth $12,226,000 after purchasing an additional 6,401 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Canadian Pacific Kansas City by 2.8% in the 3rd quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock worth $250,602,000 after purchasing an additional 81,111 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $73.99 on Friday. The stock has a market capitalization of $69.06 billion, a PE ratio of 26.43, a P/E/G ratio of 2.20 and a beta of 0.98. The business has a 50 day simple moving average of $81.44 and a two-hundred day simple moving average of $80.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. Canadian Pacific Kansas City has a 1-year low of $69.27 and a 1-year high of $91.58.

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 for the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, research analysts predict that Canadian Pacific Kansas City will post 3.05 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.14 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. Canadian Pacific Kansas City’s payout ratio is 19.64%.

Analyst Upgrades and Downgrades

CP has been the topic of several recent research reports. Citigroup decreased 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. Evercore ISI raised their price objective on 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. Stifel Nicolaus cut their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Finally, Barclays increased 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. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

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.