Bessemer Group Inc. Acquires 2,502,104 Shares of Canadian Pacific Kansas City Limited $CP

Bessemer Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5,826.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,545,049 shares of the transportation company’s stock after purchasing an additional 2,502,104 shares during the period. Bessemer Group Inc.’s holdings in Canadian Pacific Kansas City were worth $199,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prosperity Bancshares Inc bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new position in Canadian Pacific Kansas City in the fourth quarter valued at about $29,000. McMillan Office Inc. purchased a new position in Canadian Pacific Kansas City in the fourth quarter valued at about $31,000. Wealth Watch Advisors INC bought a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at approximately $36,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 2.6%

CP opened at $92.84 on Friday. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $93.30. The company has a market cap of $82.17 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $88.09 and a 200 day moving average of $82.69.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be issued a dividend of $0.268 per share. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. 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 1.2%. Canadian Pacific Kansas City’s payout ratio is currently 24.07%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CP. Argus set a $105.00 price target on shares of Canadian Pacific Kansas City in a report on Tuesday, June 16th. 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. Wells Fargo & Company boosted their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Finally, Stephens upgraded Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. 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.

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.