Thrivent Financial for Lutherans Raises Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Thrivent Financial for Lutherans boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 61.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,807 shares of the transportation company’s stock after purchasing an additional 7,573 shares during the period. Thrivent Financial for Lutherans’ holdings in Canadian Pacific Kansas City were worth $1,694,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Grove Bank & Trust lifted its stake in shares of Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Addison Advisors LLC increased its stake in Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after purchasing an additional 279 shares during the period. LRI Investments LLC bought a new stake in Canadian Pacific Kansas City in the first quarter valued at approximately $35,000. Chris Bulman Inc purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $35,000. Finally, Asset Dedication LLC bought a new position in shares of Canadian Pacific Kansas City in the third quarter worth approximately $38,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

CP opened at $76.62 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $71.08 and a 12-month high of $91.58. The company has a market cap of $71.51 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $79.26 and a two-hundred day simple moving average of $80.24.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results 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 the consensus estimate of $3.59 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. 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 19.64%.

Analysts Set New Price Targets

Several brokerages have weighed in on CP. Sanford C. Bernstein dropped their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Barclays increased their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Citigroup reduced their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Bank of America dropped their price objective on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Stephens reduced their target price on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.88.

Canadian Pacific Kansas City 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.