Canadian Pacific Kansas City Sees Unusually Large Options Volume (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of unusually large options trading on Wednesday. Traders bought 3,716 call options on the company. This is an increase of 111% compared to the typical volume of 1,758 call options.

Analyst Ratings Changes

CP has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective for the company. Sanford C. Bernstein lowered their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Barclays boosted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.90.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Hedge funds have recently modified their holdings of the company. JCIC Asset Management Inc. boosted its holdings in Canadian Pacific Kansas City by 4.8% in the third quarter. JCIC Asset Management Inc. now owns 67,124 shares of the transportation company’s stock valued at $5,741,000 after acquiring an additional 3,055 shares in the last quarter. Tanager Wealth Management LLP purchased a new position in shares of Canadian Pacific Kansas City during the third quarter valued at about $503,000. International Assets Investment Management LLC bought a new position in Canadian Pacific Kansas City in the third quarter worth about $111,380,000. Narwhal Capital Management lifted its holdings in Canadian Pacific Kansas City by 29.6% in the third quarter. Narwhal Capital Management now owns 94,357 shares of the transportation company’s stock worth $8,071,000 after buying an additional 21,537 shares during the period. Finally, Pictet North America Advisors SA grew its holdings in shares of Canadian Pacific Kansas City by 2.2% during the 3rd quarter. Pictet North America Advisors SA now owns 313,041 shares of the transportation company’s stock worth $26,867,000 after acquiring an additional 6,789 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 0.9 %

Canadian Pacific Kansas City stock traded down $0.71 during mid-day trading on Wednesday, hitting $78.94. The company’s stock had a trading volume of 171,768 shares, compared to its average volume of 2,090,994. The business has a 50 day moving average price of $82.91 and a 200-day moving average price of $81.52. Canadian Pacific Kansas City has a 12 month low of $68.92 and a 12 month high of $91.58. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company earned $0.62 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, analysts forecast that Canadian Pacific Kansas City will post 3.2 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.70%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

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.