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

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 7,110,000 shares, a growth of 5.2% from the December 15th total of 6,760,000 shares. Based on an average daily trading volume, of 2,850,000 shares, the days-to-cover ratio is currently 2.5 days.

Canadian Pacific Kansas City Price Performance

CP opened at $74.80 on Tuesday. Canadian Pacific Kansas City has a twelve month low of $70.89 and a twelve month high of $91.58. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm has a market cap of $69.83 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.89 and a beta of 0.96. The company has a fifty day simple moving average of $74.69 and a 200 day simple moving average of $79.16.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts expect that Canadian Pacific Kansas City will post 3.02 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is 19.29%.

Analysts Set New Price Targets

CP has been the subject of several research analyst reports. Bank of America dropped their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Barclays cut their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday. Susquehanna lowered their price target on Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Stephens upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $81.00 to $88.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average target price of $92.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position 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 acquiring an additional 1,678,784 shares in the last quarter. National Bank of Canada FI lifted its stake in Canadian Pacific Kansas City by 84.4% during the third 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 during the last quarter. Point72 Asset Management L.P. acquired a new position in Canadian Pacific Kansas City in the third quarter worth $63,179,000. 1832 Asset Management L.P. increased its stake in Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Canadian Pacific Kansas City by 39.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock worth $172,132,000 after purchasing an additional 565,783 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

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.