AlTi Global Inc. Purchases 8,442 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

AlTi Global Inc. grew its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 78.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,152 shares of the transportation company’s stock after purchasing an additional 8,442 shares during the quarter. AlTi Global Inc.’s holdings in Canadian Pacific Kansas City were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CP. LRI Investments LLC bought a new position in shares of Canadian Pacific Kansas City in the first quarter worth approximately $32,000. Chris Bulman Inc bought a new position in shares of Canadian Pacific Kansas City during the second quarter worth $35,000. ORG Partners LLC bought a new position in shares of Canadian Pacific Kansas City during the second quarter worth $39,000. Tobam bought a new position in shares of Canadian Pacific Kansas City during the first quarter worth $51,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Canadian Pacific Kansas City during the second quarter worth $61,000. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CP shares. Sanford C. Bernstein upped their target price on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Susquehanna restated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Stifel Nicolaus upped their target price on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI lifted their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $96.59.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $85.11 on Thursday. The firm has a 50-day moving average price of $82.24 and a 200-day moving average price of $82.44. The firm has a market capitalization of $79.43 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.65%. Canadian Pacific Kansas City’s payout ratio is 17.95%.

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.