Canadian Pacific Kansas City Limited (NYSE:CP) Short Interest Down 5.1% in December

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 6,760,000 shares, a decline of 5.1% from the November 30th total of 7,120,000 shares. Based on an average daily trading volume, of 2,890,000 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several hedge funds have recently bought and sold shares of CP. Grove Bank & Trust grew its position in shares of Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 130 shares during the period. Addison Advisors LLC increased its position in shares of Canadian Pacific Kansas City by 246.9% during the third quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after acquiring an additional 279 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the third quarter worth $34,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $35,000. Finally, Asset Dedication LLC bought a new stake in Canadian Pacific Kansas City in the 3rd quarter valued at $38,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Up 0.6 %

CP stock traded up $0.41 during midday trading on Wednesday, reaching $72.37. The company’s stock had a trading volume of 1,525,347 shares, compared to its average volume of 2,286,896. The business’s 50-day simple moving average is $75.42 and its 200-day simple moving average is $79.48. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 52 week low of $70.89 and a 52 week high of $91.58. The stock has a market cap of $67.55 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Canadian Pacific Kansas City will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CP. Sanford C. Bernstein reduced their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Barclays lifted their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI increased their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.