Kennebec Savings Bank Acquires Shares of 496 Canadian Pacific Kansas City Limited (NYSE:CP)

Kennebec Savings Bank acquired a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 496 shares of the transportation company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust raised its position in shares of Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at about $32,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at about $35,000. Asset Dedication LLC acquired a new stake in shares of Canadian Pacific Kansas City in the third quarter valued at about $38,000. Finally, ORG Partners LLC acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at about $39,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.3 %

Shares of Canadian Pacific Kansas City stock opened at $77.39 on Tuesday. Canadian Pacific Kansas City Limited has a 52-week low of $69.08 and a 52-week high of $91.58. The company has a 50 day moving average of $82.18 and a 200 day moving average of $80.80. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $72.23 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.30 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.14 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is currently 19.64%.

Analysts Set New Price Targets

CP has been the subject of several recent analyst reports. Stephens cut their price objective on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group cut their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Evercore ISI increased their target price 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, September 25th. Finally, Citigroup increased their target price on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.15.

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.