Fifth Third Bancorp Acquires 6,671 Shares of Canadian Pacific Kansas City Limited $CP

Fifth Third Bancorp grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,198 shares of the transportation company’s stock after purchasing an additional 6,671 shares during the period. Fifth Third Bancorp’s holdings in Canadian Pacific Kansas City were worth $4,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $978,558,000. Janus Henderson Group PLC grew its position in Canadian Pacific Kansas City by 586.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company’s stock worth $452,781,000 after buying an additional 5,251,755 shares in the last quarter. FIL Ltd grew its position in Canadian Pacific Kansas City by 20.2% during the fourth quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock worth $1,227,045,000 after buying an additional 2,804,686 shares in the last quarter. Canoe Financial LP increased its stake in Canadian Pacific Kansas City by 45,389.7% during the 1st quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company’s stock worth $159,885,000 after acquiring an additional 2,028,010 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Canadian Pacific Kansas City by 206.0% during the 4th quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company’s stock worth $208,403,000 after acquiring an additional 1,905,302 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 0.9%

Shares of CP opened at $93.70 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $93.95. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.87 and a beta of 1.10. The business’s fifty day moving average is $88.24 and its 200-day moving average is $82.77.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.Canadian Pacific Kansas City’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.68 EPS 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, July 27th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s payout ratio is presently 23.77%.

Analysts Set New Price Targets

Several brokerages have weighed in on CP. Stephens raised Canadian Pacific Kansas City to a “hold” rating in a report on Wednesday, July 8th. Evercore set a $91.00 target price on Canadian Pacific Kansas City and gave the stock an “outperform” rating in a report on Thursday, June 25th. Susquehanna raised their price target on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a “positive” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and a consensus target price of $104.91.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.