MMCAP International Inc. SPC Takes Position in Canadian Pacific Kansas City Limited $CP

MMCAP International Inc. SPC bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, HoldingsChannel reports. The firm bought 12,800 shares of the transportation company’s stock, valued at approximately $953,000.

A number of other hedge funds also recently bought and sold shares of CP. Vanguard Group Inc. raised its position in Canadian Pacific Kansas City by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company’s stock valued at $2,884,826,000 after purchasing an additional 510,633 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 15.1% during the second quarter. Invesco Ltd. now owns 19,543,455 shares of the transportation company’s stock valued at $1,549,210,000 after acquiring an additional 2,559,104 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Canadian Pacific Kansas City by 0.9% during the second quarter. Mackenzie Financial Corp now owns 16,498,767 shares of the transportation company’s stock valued at $1,311,512,000 after acquiring an additional 150,963 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Pacific Kansas City by 87.2% in the second quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock worth $1,268,325,000 after acquiring an additional 7,454,810 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Canadian Pacific Kansas City by 16.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,850,737 shares of the transportation company’s stock valued at $1,018,952,000 after acquiring an additional 1,792,388 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 0.5%

NYSE:CP opened at $85.14 on Monday. The firm has a market capitalization of $76.44 billion, a P/E ratio of 26.36, a PEG ratio of 1.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $85.56. The company’s 50-day simple moving average is $75.74 and its 200 day simple moving average is $74.71.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.88%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business posted $1.29 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be issued a $0.228 dividend. This represents a $0.91 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Pacific Kansas City’s payout ratio is 20.43%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CP shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $124.00 target price (down from $127.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, January 29th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, January 21st. Citigroup cut their price objective on Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a report on Monday, December 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.