Korea Investment CORP Purchases Shares of 299,552 Canadian Pacific Kansas City Limited $CP

Korea Investment CORP purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 299,552 shares of the transportation company’s stock, valued at approximately $25,962,000.

Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in Canadian Pacific Kansas City by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company’s stock worth $46,434,000 after acquiring an additional 37,044 shares during the period. Jennison Associates LLC purchased a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $1,983,000. Saranac Partners Ltd bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth $5,973,000. Rathbones Group PLC increased its stake in Canadian Pacific Kansas City by 5.9% during the 4th quarter. Rathbones Group PLC now owns 1,729,339 shares of the transportation company’s stock valued at $127,342,000 after purchasing an additional 95,727 shares in the last quarter. Finally, WGI DM LLC raised its holdings in Canadian Pacific Kansas City by 3.9% in the 4th quarter. WGI DM LLC now owns 437,824 shares of the transportation company’s stock worth $32,237,000 after acquiring an additional 16,282 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Citigroup increased their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their target price on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Susquehanna raised their target price on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a “positive” rating in a research report on Tuesday, July 14th. Finally, Stephens upgraded Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $96.81 on Monday. The stock has a market cap of $85.04 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The stock’s fifty day moving average is $90.21 and its 200 day moving average is $86.24. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $96.90.

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

Canadian Pacific Kansas City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be given 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 of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s payout ratio is presently 25.08%.

Canadian Pacific Kansas City Company 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.