78,062 Shares in Canadian Pacific Kansas City Limited $CP Purchased by Saranac Partners Ltd

Saranac Partners Ltd purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 78,062 shares of the transportation company’s stock, valued at approximately $6,773,000. Canadian Pacific Kansas City comprises approximately 2.0% of Saranac Partners Ltd’s investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. Prosperity Bancshares Inc purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $29,000. McMillan Office Inc. bought a new position in Canadian Pacific Kansas City during the 4th quarter valued at $31,000. Acadian Asset Management LLC purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth $35,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter worth $36,000. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Up 0.1%

Shares of NYSE CP opened at $96.81 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The stock has a market capitalization of $85.04 billion, a PE ratio of 31.13, a P/E/G ratio of 1.89 and a beta of 1.10. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $96.90. The business’s fifty day moving average price is $90.21 and its 200-day moving average price is $86.24.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. On average, equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a $0.268 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 25.08%.

Analysts Set New Price Targets

CP has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Stephens upgraded shares of Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Finally, Argus set a $105.00 price objective on Canadian Pacific Kansas City in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.60.

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.