Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 81,384 shares of the transportation company’s stock after buying an additional 10,217 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $6,407,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CP. Accretive Wealth Partners LLC lifted its position in Canadian Pacific Kansas City by 1.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock valued at $753,000 after purchasing an additional 145 shares during the last quarter. Financial Advocates Investment Management lifted its position in Canadian Pacific Kansas City by 2.2% in the 4th quarter. Financial Advocates Investment Management now owns 11,055 shares of the transportation company’s stock valued at $878,000 after purchasing an additional 241 shares during the last quarter. Norges Bank bought a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $979,890,000. UBS Group AG lifted its position in Canadian Pacific Kansas City by 3.1% in the 4th quarter. UBS Group AG now owns 1,004,693 shares of the transportation company’s stock valued at $79,431,000 after purchasing an additional 30,305 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Canadian Pacific Kansas City by 52.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,353 shares of the transportation company’s stock valued at $1,056,000 after purchasing an additional 4,567 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group dropped 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 report on Wednesday, July 17th. Susquehanna restated a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, Sanford C. Bernstein boosted their price target on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $86.32 on Monday. The firm’s 50 day moving average is $81.63 and its 200-day moving average is $82.48. The stock has a market capitalization of $80.54 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.31%.

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.