Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 738,164 shares, an increase of 47.3% from the July 14th total of 500,980 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 721,378 shares, the days-to-cover ratio is currently 1.0 days.

CP has been the subject of a number of recent research reports. Loop Capital lowered their price objective on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a report on Monday, April 24th. Citigroup Inc. restated a “buy” rating and issued a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 14th. Stifel Nicolaus restated a “buy” rating and issued a $164.00 price objective (down from $165.00) on shares of Canadian Pacific Railway Limited in a report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price objective for the company in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Canadian Pacific Railway Limited currently has an average rating of “Buy” and a consensus target price of $187.37.

Hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in Canadian Pacific Railway Limited by 67.6% in the first quarter. Canada Pension Plan Investment Board now owns 29,700 shares of the transportation company’s stock valued at $4,356,000 after buying an additional 11,980 shares during the period. Greenleaf Trust acquired a new stake in Canadian Pacific Railway Limited during the first quarter valued at $3,378,000. BB&T Corp acquired a new stake in Canadian Pacific Railway Limited during the first quarter valued at $225,000. Wetherby Asset Management Inc. increased its stake in Canadian Pacific Railway Limited by 2.2% in the first quarter. Wetherby Asset Management Inc. now owns 2,142 shares of the transportation company’s stock valued at $315,000 after buying an additional 47 shares during the period. Finally, Whittier Trust Co. increased its stake in Canadian Pacific Railway Limited by 0.5% in the first quarter. Whittier Trust Co. now owns 2,855 shares of the transportation company’s stock valued at $419,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 70.46% of the company’s stock.

Canadian Pacific Railway Limited (NYSE CP) opened at 155.38 on Wednesday. The firm has a 50-day moving average of $159.35 and a 200 day moving average of $153.84. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 17.50 and a beta of 1.09. Canadian Pacific Railway Limited has a one year low of $139.29 and a one year high of $167.52.

Canadian Pacific Railway Limited announced that its board has authorized a stock repurchase program on Wednesday, May 10th that allows the company to buyback 4,380,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.14%. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is 19.88%.

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Canadian Pacific Railway Limited Company Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

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