Bank of New York Mellon Corp Purchases 44,935 Shares of Canadian Pacific Kansas City Limited $CP

Bank of New York Mellon Corp lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,614 shares of the transportation company's stock after acquiring an additional 44,935 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of Canadian Pacific Kansas City worth $76,305,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Canadian Pacific Kansas City by 1.3% during the fourth quarter. Invesco Ltd. now owns 23,431,949 shares of the transportation company's stock valued at $1,725,294,000 after buying an additional 303,464 shares during the period. FIL Ltd boosted its position in Canadian Pacific Kansas City by 20.2% during the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company's stock valued at $1,227,045,000 after acquiring an additional 2,804,686 shares in the last quarter. Norges Bank bought a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $978,558,000. Geode Capital Management LLC boosted its position in Canadian Pacific Kansas City by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 8,821,358 shares of the transportation company's stock valued at $661,339,000 after purchasing an additional 461,724 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Canadian Pacific Kansas City by 21.9% in the 4th quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company's stock valued at $620,925,000 after buying an additional 1,517,323 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.2%

Shares of NYSE:CP opened at $94.45 on Wednesday. The stock has a market cap of $82.97 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The firm's 50 day moving average price is $90.42 and its 200 day moving average price is $86.47. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $96.90. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly 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. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 earnings per share. As a group, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid 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 payout ratio is 25.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CP shares. Wells Fargo & Company upped their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Evercore set a $99.00 price target on Canadian Pacific Kansas City in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an "outperformer" rating in a report on Thursday, June 25th. Argus set a $105.00 price target on Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.60.

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.

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