Canadian Pacific Kansas City Limited (NYSE:CP) Short Interest Update

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,630,000 shares, an increase of 26.2% from the October 15th total of 6,840,000 shares. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is currently 4.1 days.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock traded down $1.88 during trading hours on Friday, hitting $74.00. The stock had a trading volume of 4,003,725 shares, compared to its average volume of 2,177,583. The firm has a market capitalization of $69.06 billion, a PE ratio of 26.51, a PEG ratio of 2.25 and a beta of 0.98. Canadian Pacific Kansas City has a twelve month low of $69.27 and a twelve month high of $91.58. The stock’s 50 day moving average is $81.62 and its 200 day moving average is $80.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46.

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

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.00%.

Analyst Ratings Changes

CP has been the subject of several recent research reports. Barclays upped their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Stifel Nicolaus cut 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. Citigroup decreased their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Finally, Bank of America decreased their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.68.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Canadian Pacific Kansas City by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after purchasing an additional 588,701 shares during the last quarter. Bank of Montreal Can boosted its position in 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 purchasing an additional 533,792 shares during the period. 1832 Asset Management L.P. boosted its position in Canadian Pacific Kansas City by 5.5% during the 2nd 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 during the period. The Manufacturers Life Insurance Company boosted its position in Canadian Pacific Kansas City by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after acquiring an additional 216,062 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Canadian Pacific Kansas City by 8.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,203,273 shares of the transportation company’s stock worth $723,523,000 after acquiring an additional 622,106 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

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.