Short Interest in Canadian Pacific Kansas City Limited (NYSE:CP) Increases By 7.9%

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 7,670,000 shares, a growth of 7.9% from the August 15th total of 7,110,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Several brokerages recently commented on CP. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price for the company. Jefferies Financial Group lowered their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein upped their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Barclays reduced their target price on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $87.28 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58. The stock has a market capitalization of $81.44 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. The stock has a fifty day moving average of $81.78 and a 200-day moving average of $82.50.

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, beating analysts’ consensus estimates of $0.74 by $0.31. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. On average, sell-side analysts expect that Canadian Pacific Kansas City will post 3.1 earnings per share for the current fiscal 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 paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Institutional Trading of Canadian Pacific Kansas City

A number of hedge funds have recently added to or reduced their stakes in CP. Accretive Wealth Partners LLC boosted its holdings in shares of Canadian Pacific Kansas City by 1.5% during the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock valued at $753,000 after acquiring an additional 145 shares in the last quarter. UBS Group AG boosted its stake in shares of Canadian Pacific Kansas City by 3.1% during the fourth quarter. UBS Group AG now owns 1,004,693 shares of the transportation company’s stock valued at $79,431,000 after purchasing an additional 30,305 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Canadian Pacific Kansas City by 52.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,353 shares of the transportation company’s stock worth $1,056,000 after purchasing an additional 4,567 shares during the last quarter. Balentine LLC boosted its position in Canadian Pacific Kansas City by 22.2% during the 4th quarter. Balentine LLC now owns 4,188 shares of the transportation company’s stock worth $333,000 after buying an additional 760 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Canadian Pacific Kansas City by 0.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,922,848 shares of the transportation company’s stock worth $151,687,000 after buying an additional 12,723 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.