Fifth Third Bancorp Boosts Stock Position in Canadian Pacific Kansas City Limited $CP

Fifth Third Bancorp boosted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 19.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,455 shares of the transportation company’s stock after purchasing an additional 10,257 shares during the quarter. Fifth Third Bancorp’s holdings in Canadian Pacific Kansas City were worth $5,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth about $978,558,000. Janus Henderson Group PLC raised its position in shares of Canadian Pacific Kansas City by 586.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company’s stock valued at $452,781,000 after buying an additional 5,251,755 shares during the last quarter. FIL Ltd raised its position in shares of Canadian Pacific Kansas City by 20.2% in the fourth quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock valued at $1,227,045,000 after buying an additional 2,804,686 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Canadian Pacific Kansas City by 5,826.3% during the first quarter. Bessemer Group Inc. now owns 2,545,049 shares of the transportation company’s stock valued at $199,605,000 after buying an additional 2,502,104 shares during the period. Finally, Canoe Financial LP lifted its stake in shares of Canadian Pacific Kansas City by 45,389.7% during the first quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company’s stock valued at $159,885,000 after buying an additional 2,028,010 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

CP opened at $93.53 on Friday. The company’s 50 day simple moving average is $89.72 and its 200 day simple moving average is $85.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $94.66. The stock has a market capitalization of $82.16 billion, a PE ratio of 30.08, a P/E/G ratio of 1.83 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Canadian Pacific Kansas City’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio is presently 25.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 16th. Citizens Jmp assumed coverage on Canadian Pacific Kansas City in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $145.00 price objective (up from $139.00) on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Finally, Citigroup raised their price objective on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Canadian Pacific Kansas City 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.