Addenda Capital Inc. Has $61.49 Million Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Addenda Capital Inc. boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 849,588 shares of the transportation company’s stock after acquiring an additional 12,446 shares during the quarter. Canadian Pacific Kansas City accounts for about 2.8% of Addenda Capital Inc.’s portfolio, making the stock its 10th largest position. Addenda Capital Inc.’s holdings in Canadian Pacific Kansas City were worth $61,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV grew its position in shares of Canadian Pacific Kansas City by 18.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 23,532 shares of the transportation company’s stock valued at $1,869,000 after buying an additional 3,612 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Canadian Pacific Kansas City in the second quarter worth approximately $217,000. Sei Investments Co. boosted its holdings in Canadian Pacific Kansas City by 9.9% in the second quarter. Sei Investments Co. now owns 679,129 shares of the transportation company’s stock valued at $53,468,000 after acquiring an additional 60,936 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Canadian Pacific Kansas City by 1.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 63,350 shares of the transportation company’s stock valued at $5,173,000 after purchasing an additional 900 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $1,379,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CP. Stephens upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $81.00 to $88.00 in a research report on Monday, January 6th. StockNews.com downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Susquehanna lowered their price objective on Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wolfe Research upgraded Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.63.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $74.80 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $74.69 and a two-hundred day simple moving average of $79.16. Canadian Pacific Kansas City Limited has a 12 month low of $70.89 and a 12 month high of $91.58. The firm has a market capitalization of $69.83 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.02 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.75%. Canadian Pacific Kansas City’s dividend payout ratio is 19.29%.

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.