Bank of New York Mellon Corp Buys 31,508 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bank of New York Mellon Corp raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,065,476 shares of the transportation company's stock after purchasing an additional 31,508 shares during the period. Bank of New York Mellon Corp owned 0.11% of Canadian Pacific Kansas City worth $74,807,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CP. Norges Bank bought a new position in Canadian Pacific Kansas City during the 4th quarter worth $914,090,000. Causeway Capital Management LLC raised its position in Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the last quarter. Invesco Ltd. raised its position in Canadian Pacific Kansas City by 25.7% during the 4th quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock worth $770,526,000 after purchasing an additional 2,177,604 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Canadian Pacific Kansas City by 44.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after purchasing an additional 1,516,684 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Canadian Pacific Kansas City by 11.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after purchasing an additional 1,262,913 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Down 0.9%

Canadian Pacific Kansas City stock traded down $0.78 during midday trading on Friday, reaching $81.63. The stock had a trading volume of 2,537,994 shares, compared to its average volume of 2,820,707. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The company has a market capitalization of $75.21 billion, a P/E ratio of 27.58, a PEG ratio of 2.28 and a beta of 1.07. The company has a fifty day moving average price of $79.97 and a two-hundred day moving average price of $76.63. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. As a group, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. This represents a $0.66 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's payout ratio is currently 22.30%.

Analyst Ratings Changes

Several research analysts recently issued reports on CP shares. Evercore ISI lowered their target price on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Susquehanna reissued a "positive" rating and issued a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Bank of America lifted their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada lowered their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.95.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.