Canadian Pacific Kansas City (NYSE:CP) Sees Strong Trading Volume – Here’s What Happened

Shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw unusually-high trading volume on Thursday. 5,660,323 shares traded hands during trading, an increase of 109% from the previous session’s volume of 2,704,150 shares. The stock last traded at $88.0540 and had previously closed at $88.28.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citizens Jmp started coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Wall Street Zen raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Susquehanna increased their target price on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a “positive” rating in a research note on Tuesday, July 14th. Evercore set a $99.00 price target on Canadian Pacific Kansas City in a report on Thursday, July 30th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Canadian Pacific Kansas City Price Performance

The stock has a market capitalization of $76.35 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 1.82 and a beta of 1.12. The business’s 50 day simple moving average is $91.18 and its two-hundred day simple moving average is $87.32. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid a C$0.27 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio is 25.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Canadian Pacific Kansas City by 3.8% during the second quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company’s stock worth $304,000 after buying an additional 130 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Canadian Pacific Kansas City by 4.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,516 shares of the transportation company’s stock valued at $305,000 after acquiring an additional 134 shares in the last quarter. Foster Group Inc. lifted its stake in Canadian Pacific Kansas City by 3.3% during the 2nd quarter. Foster Group Inc. now owns 4,279 shares of the transportation company’s stock valued at $371,000 after acquiring an additional 137 shares in the last quarter. Modern Wealth Management LLC lifted its stake in Canadian Pacific Kansas City by 1.2% during the 1st quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company’s stock valued at $950,000 after acquiring an additional 142 shares in the last quarter. Finally, Altshuler Shaham Ltd boosted its holdings in Canadian Pacific Kansas City by 1.2% during the 1st quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company’s stock worth $926,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.