Canadian Pacific Kansas City (NYSE:CP) Sees Unusually-High Trading Volume After Dividend Announcement

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw an uptick in trading volume on Monday following a dividend announcement from the company. 5,018,873 shares were traded during mid-day trading, an increase of 54% from the previous session’s volume of 3,257,531 shares.The stock last traded at $77.17 and had previously closed at $79.60.

The newly announced dividend which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a $0.1318 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.53 annualized dividend and a yield of 0.68%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 18.62%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CP. Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target for the company in a research report on Wednesday, January 8th. Bank of America lowered their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.45.

Canadian Pacific Kansas City Stock Performance

The firm’s fifty day moving average is $75.36 and its 200 day moving average is $78.89. The firm has a market capitalization of $71.98 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.06 and a beta of 0.97. 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 (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in Canadian Pacific Kansas City by 281.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after acquiring an additional 2,532,519 shares during the last quarter. National Bank of Canada FI increased its stake in Canadian Pacific Kansas City by 84.4% during the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after purchasing an additional 1,348,474 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Canadian Pacific Kansas City by 36.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock worth $245,403,000 after acquiring an additional 769,202 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Canadian Pacific Kansas City during the 3rd quarter worth about $63,179,000. Finally, Fisher Funds Management LTD acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at approximately $44,008,000. 72.20% of the stock is currently owned by institutional investors.

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.