BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 454,654 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,324,238 shares of the transportation company's stock after acquiring an additional 454,654 shares during the period. Canadian Pacific Kansas City comprises 1.4% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings, making the stock its 11th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.36% of Canadian Pacific Kansas City worth $240,423,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CP. Barclays PLC boosted its holdings in Canadian Pacific Kansas City by 2.8% in the third quarter. Barclays PLC now owns 2,929,642 shares of the transportation company's stock valued at $250,602,000 after acquiring an additional 81,111 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Canadian Pacific Kansas City by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company's stock valued at $750,046,000 after purchasing an additional 381,594 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Canadian Pacific Kansas City by 6.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 28,386 shares of the transportation company's stock worth $2,054,000 after buying an additional 1,762 shares during the period. Merit Financial Group LLC acquired a new position in Canadian Pacific Kansas City in the fourth quarter valued at $288,000. Finally, Addenda Capital Inc. lifted its holdings in Canadian Pacific Kansas City by 1.5% in the fourth quarter. Addenda Capital Inc. now owns 849,588 shares of the transportation company's stock valued at $61,485,000 after buying an additional 12,446 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $81.94 on Wednesday. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The stock has a market capitalization of $76.24 billion, a P/E ratio of 28.26, a PEG ratio of 2.00 and a beta of 1.09. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average is $73.67 and its 200 day moving average is $75.20.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the company posted $0.93 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.1644 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's dividend payout ratio is presently 21.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CP. Jefferies Financial Group dropped their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays cut their price target on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their price target on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Argus set a $90.00 price target on Canadian Pacific Kansas City in a research note on Wednesday, March 26th. Finally, Susquehanna raised their target price on Canadian Pacific Kansas City from $88.00 to $90.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.63.

About Canadian Pacific Kansas City

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.

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