Murchinson Ltd. Invests $296,000 in Canadian Pacific Kansas City Limited (NYSE:CP)

Murchinson Ltd. acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, Holdings Channel reports. The institutional investor acquired 3,463 shares of the transportation company’s stock, valued at approximately $296,000.

Several other hedge funds have also recently added to or reduced their stakes in CP. Bank of Montreal Can increased its stake in shares of Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after acquiring an additional 533,792 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares during the period. The Manufacturers Life Insurance Company increased its stake in Canadian Pacific Kansas City by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after purchasing an additional 216,062 shares in the last quarter. Fiera Capital Corp raised its holdings in Canadian Pacific Kansas City by 1.9% in the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock worth $497,918,000 after purchasing an additional 107,183 shares during the period. Finally, Cantillon Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 9.1% in the 3rd quarter. Cantillon Capital Management LLC now owns 3,705,152 shares of the transportation company’s stock valued at $316,939,000 after buying an additional 310,588 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CP shares. Barclays raised their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus reduced their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their price target for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.88.

Canadian Pacific Kansas City Stock Down 0.9 %

CP stock opened at $75.60 on Wednesday. The business’s fifty day moving average price is $78.86 and its two-hundred day moving average price is $80.14. The stock has a market capitalization of $70.56 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.26 and a beta of 0.96. Canadian Pacific Kansas City Limited has a fifty-two week low of $72.22 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its 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). The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is 19.64%.

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.