Transcend Capital Advisors LLC Invests $640,000 in Canadian Pacific Kansas City Limited (NYSE:CP)

Transcend Capital Advisors LLC purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 8,129 shares of the transportation company’s stock, valued at approximately $640,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $979,890,000. TD Asset Management Inc lifted its stake in shares of Canadian Pacific Kansas City by 47.7% in the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after purchasing an additional 6,835,271 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Canadian Pacific Kansas City by 757.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock worth $342,191,000 after purchasing an additional 3,801,910 shares during the period. Meritage Group LP acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth about $207,850,000. Finally, Clearbridge Investments LLC raised its holdings in Canadian Pacific Kansas City by 36.3% in the 4th quarter. Clearbridge Investments LLC now owns 7,581,167 shares of the transportation company’s stock valued at $599,367,000 after buying an additional 2,018,375 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CP has been the subject of several research reports. Raymond James lifted their target price on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Sanford C. Bernstein increased their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group cut their price target on 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. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.70.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP traded down $1.81 during midday trading on Monday, hitting $77.00. The company had a trading volume of 1,071,136 shares, compared to its average volume of 2,164,526. The firm has a market capitalization of $71.85 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The business has a 50-day simple moving average of $79.80 and a two-hundred day simple moving average of $82.81. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.11 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.71%. 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.