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

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 9,550,000 shares, a decrease of 17.1% from the February 13th total of 11,520,000 shares. Based on an average daily trading volume, of 2,860,000 shares, the short-interest ratio is presently 3.3 days. Currently, 1.0% of the shares of the stock are sold short.

Canadian Pacific Kansas City Trading Down 0.1 %

CP traded down $0.04 during midday trading on Thursday, reaching $74.21. 935,420 shares of the company were exchanged, compared to its average volume of 2,919,907. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a one year low of $70.89 and a one year high of $90.64. The stock has a market capitalization of $69.29 billion, a P/E ratio of 25.58, a PEG ratio of 2.00 and a beta of 0.98. The stock’s 50-day simple moving average is $76.80 and its 200 day simple moving average is $78.05.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. As a group, analysts forecast that Canadian Pacific Kansas City will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.1318 per share. The ex-dividend date is Friday, March 28th. This represents a $0.53 annualized dividend and a yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

Institutional Trading of Canadian Pacific Kansas City

A number of hedge funds have recently made changes to their positions in CP. Norges Bank acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $914,090,000. Causeway Capital Management LLC grew its holdings in Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company’s stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. Allspring Global Investments Holdings LLC grew its position in Canadian Pacific Kansas City by 281.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after purchasing an additional 2,532,519 shares during the period. Invesco Ltd. grew its holdings in shares of Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company’s stock valued at $770,526,000 after buying an additional 2,177,604 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Canadian Pacific Kansas City by 84.4% during the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after acquiring an additional 1,348,474 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CP. Stephens raised their price objective on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Finally, Loop Capital lowered shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $95.45.

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.