Coombe Bender & Co LLC Acquires Shares of 47,968 Canadian Pacific Kansas City Limited (NYSE:CP)

Coombe Bender & Co LLC bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,968 shares of the transportation company’s stock, valued at approximately $3,792,000. Canadian Pacific Kansas City comprises approximately 2.4% of Coombe Bender & Co LLC’s portfolio, making the stock its 17th biggest position.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 1.5% during the third quarter. Vanguard Group Inc. now owns 33,752,798 shares of the transportation company’s stock worth $2,511,546,000 after purchasing an additional 483,138 shares during the period. FMR LLC grew its holdings in Canadian Pacific Kansas City by 1.8% during the third quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock valued at $2,304,549,000 after purchasing an additional 553,163 shares during the period. Mackenzie Financial Corp raised its holdings in Canadian Pacific Kansas City by 5.9% in the fourth quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after purchasing an additional 787,608 shares during the period. CIBC Asset Management Inc raised its stake in Canadian Pacific Kansas City by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 9,536,530 shares of the transportation company’s stock worth $711,045,000 after buying an additional 86,525 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in Canadian Pacific Kansas City by 0.4% during the third quarter. Bank of Nova Scotia now owns 8,305,174 shares of the transportation company’s stock worth $617,332,000 after acquiring an additional 36,287 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CP shares. Susquehanna Bancshares lowered Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Bank of America cut their price target on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Susquehanna dropped their price objective on shares of Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Canadian Pacific Kansas City in a research note on Monday, April 8th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.42.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP traded up $1.48 during midday trading on Thursday, hitting $79.05. The stock had a trading volume of 675,662 shares, compared to its average volume of 2,124,603. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $73.72 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. The company’s 50-day moving average price is $86.66 and its 200-day moving average price is $79.99. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. As a group, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.15 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a $0.141 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.95%.

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.