Canadian Pacific Kansas City (NYSE:CP) Sees Unusually-High Trading Volume After Dividend Announcement

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw unusually-high trading volume on Monday after the company announced a dividend. Approximately 5,018,873 shares changed hands during trading, an increase of 54% from the previous session’s volume of 3,257,531 shares.The stock last traded at $77.17 and had previously closed at $79.60.

The newly announced dividend which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.1318 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio is currently 18.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Stifel Nicolaus dropped their price objective on Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday. Finally, Barclays reduced their target price on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.45.

Canadian Pacific Kansas City Price Performance

The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $75.40 and its 200-day simple moving average is $78.95. The stock has a market cap of $72.05 billion, a PE ratio of 26.61, a PEG ratio of 2.06 and a beta of 0.97.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. On average, research analysts expect that Canadian Pacific Kansas City Limited will post 3.39 EPS for the current fiscal year.

Institutional Trading of Canadian Pacific Kansas City

A number of institutional investors and hedge funds have recently modified their holdings of CP. Allspring Global Investments Holdings LLC raised its position in Canadian Pacific Kansas City by 281.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after acquiring an additional 2,532,519 shares during the period. National Bank of Canada FI lifted its holdings in Canadian Pacific Kansas City by 84.4% in the 3rd 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Canadian Pacific Kansas City by 36.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock worth $245,403,000 after purchasing an additional 769,202 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Canadian Pacific Kansas City during the third quarter valued at approximately $63,179,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position 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 valued at $172,132,000 after buying an additional 565,783 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, 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.