Cherokee Insurance Co Makes New Investment in Canadian Pacific Kansas City Limited $CP

Cherokee Insurance Co purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 38,068 shares of the transportation company’s stock, valued at approximately $3,018,000. Canadian Pacific Kansas City comprises 1.3% of Cherokee Insurance Co’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. raised its position in Canadian Pacific Kansas City by 70.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock worth $652,936,000 after buying an additional 3,842,866 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth approximately $126,928,000. Causeway Capital Management LLC lifted its stake in Canadian Pacific Kansas City by 11.5% during the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after acquiring an additional 1,778,984 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Pacific Kansas City by 47.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,541,610 shares of the transportation company’s stock valued at $318,775,000 after acquiring an additional 1,465,689 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CP has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Wall Street Zen raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup decreased their price objective on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a report on Monday, October 13th. Stephens upped their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $72.41 on Thursday. The company has a market capitalization of $65.21 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.05 and a beta of 1.08. The business’s 50 day moving average is $74.65 and its two-hundred day moving average is $76.82. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.228 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.51%.

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.