Fifth Third Bancorp Has $4.11 Million Position in Canadian Pacific Kansas City Limited $CP

Fifth Third Bancorp lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,198 shares of the transportation company’s stock after buying 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 hedge funds and other institutional investors have also modified their holdings of CP. Prosperity Bancshares Inc bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at $26,000. Gilpin Wealth Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth about $29,000. McMillan Office Inc. bought a new position in Canadian Pacific Kansas City during the fourth quarter worth about $31,000. Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City during the first quarter worth about $35,000. Finally, Wealth Watch Advisors INC acquired a new position in Canadian Pacific Kansas City during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 0.9%

Shares of CP stock opened at $93.70 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $93.95. The company has a market capitalization of $82.93 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The firm has a 50 day moving average price of $88.24 and a two-hundred day moving average price of $82.77. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. Canadian Pacific Kansas City’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. As a group, analysts predict that Canadian Pacific Kansas City Limited will post 3.68 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be issued a $0.268 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is currently 23.77%.

Analysts Set New Price Targets

CP has been the topic of several research analyst reports. Susquehanna upped their price objective on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, June 24th. Argus set a $105.00 price target on Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective 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. One 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’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average price target of $104.91.

About Canadian Pacific Kansas City

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.