Dixon Mitchell Investment Counsel Inc. Buys 18,847 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,437 shares of the transportation company’s stock after purchasing an additional 18,847 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Canadian Pacific Kansas City were worth $22,336,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Canadian Pacific Kansas City by 1.7% during the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after buying an additional 588,701 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Canadian Pacific Kansas City by 2.5% during the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after acquiring an additional 532,303 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Canadian Pacific Kansas City by 2.8% during 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 shares of Canadian Pacific Kansas City by 5.5% in 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position 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 worth $909,721,000 after purchasing an additional 216,062 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $80.08 on Friday. The stock has a market cap of $74.72 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The firm has a 50-day moving average of $82.83 and a two-hundred day moving average of $81.71. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data 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 company 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%. Canadian Pacific Kansas City’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Analyst Upgrades and Downgrades

Several research firms have commented on CP. Jefferies Financial Group lowered 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. Citigroup started coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target for the company. Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus decreased their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Susquehanna lifted their target price on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average target price of $97.90.

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.