Seven Eight Capital LP buys 20,400 Canadian Pacific Kansas City Limited (NYSE:CP) shares

Seven Eight Capital LP purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,400 shares of the transportation company’s stock, valued at approximately $1,606,000.

A number of other institutional investors have recently made changes to their positions in CP. TD Asset Management Inc raised its stake in Canadian Pacific Kansas City by 47.7% in the fourth quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after buying an additional 6,835,271 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Canadian Pacific Kansas City by 757.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the company’s stock transportation company valued at $342,191,000 after acquiring an additional 3,801,910 shares during the period. Meritage Group LP purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $207,850,000. Mirova US LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at $168,063,000. Finally, Cantillon Capital Management LLC raised its position in shares of Canadian Pacific Kansas City by 49.1% in the first quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after purchasing an additional 1,174,200 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s shares.

Canadian Pacific Kansas City shares down 0.7%

CP stock opened at $86.04 on Thursday. The firm has a market cap of $80.28 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.45 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The stock has a 50 day simple moving average of $82.04 and a two hundred day simple moving average of $82.52. 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 – Get Your Free Report ) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 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 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 company’s quarterly revenue was up 13.5% compared to the same quarter last year. In the same quarter last year, the firm earned $0.62 EPS. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current fiscal year.

Canadian Pacific Kansas City cuts dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.1373 dividend. This represents a dividend of $0.55 on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Friday, September 27. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.31%.

Analyst upgrades and downgrades

Several research analysts have commented on the company. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 price target for the company. Jefferies Financial Group reduced 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. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Stifel Nicolaus upped their target price on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Susquehanna restated a “neutral” rating and issued a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.36, according to MarketBeat.

Read our latest research report on Canadian Pacific Kansas City

About Canadian Pacific Kansas City

(Free report)

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railroad in Canada, the United States and Mexico. The company carries bulk cargoes including grain, coal, potash, fertilizers and sulphur; transportation of goods such as forest products, energy, chemicals and plastics, metals, minerals, consumer goods and automobiles; and intermodal traffic comprising overseas containerized retail goods.

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