CIBC Asset Management Inc Has $623.94 Million Stock Holdings in Canadian Pacific Kansas City Limited $CP

CIBC Asset Management Inc raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,352,370 shares of the transportation company’s stock after purchasing an additional 698,705 shares during the quarter. Canadian Pacific Kansas City makes up about 1.8% of CIBC Asset Management Inc’s portfolio, making the stock its 14th biggest holding. CIBC Asset Management Inc owned 0.93% of Canadian Pacific Kansas City worth $623,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at $27,000. Caldwell Trust Co acquired a new stake in Canadian Pacific Kansas City in the third quarter valued at $30,000. Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. SJS Investment Consulting Inc. bought a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at about $39,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth about $49,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $72.80 on Friday. The firm has a market cap of $65.35 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The business’s 50 day moving average is $72.74 and its 200-day moving average is $74.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm earned $0.99 earnings per share. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 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 26th. Investors of record on Wednesday, December 31st will be given a dividend of $0.228 per share. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Canadian Pacific Kansas City’s payout ratio is 20.12%.

Analyst Ratings Changes

CP has been the subject of a number of research analyst reports. Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a report on Monday, December 8th. Royal Bank Of Canada cut their price objective on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Susquehanna set a $87.00 target price on Canadian Pacific Kansas City in a report on Thursday, October 30th. Citigroup set a $88.00 price target on Canadian Pacific Kansas City and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Natl Bk Canada cut shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.36.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.