Pictet Asset Management Holding SA Has $3.21 Million Stake in Copa Holdings, S.A. $CPA

Pictet Asset Management Holding SA reduced its position in Copa Holdings, S.A. (NYSE:CPA) by 73.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,263 shares of the transportation company’s stock after selling 76,947 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Copa were worth $3,211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CPA. Goldman Sachs Group Inc. raised its stake in shares of Copa by 56.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after buying an additional 122,413 shares in the last quarter. Invesco Ltd. boosted its position in shares of Copa by 585.6% during the 2nd quarter. Invesco Ltd. now owns 94,361 shares of the transportation company’s stock valued at $10,377,000 after acquiring an additional 80,598 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Copa in the second quarter valued at about $435,000. NewEdge Advisors LLC bought a new stake in Copa in the second quarter valued at about $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Copa in the second quarter worth about $12,875,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Copa in a research note on Thursday, June 18th. They set a “buy” rating and a $185.00 price target for the company. JPMorgan Chase & Co. increased their target price on Copa from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Barclays cut their target price on Copa from $185.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. The Goldman Sachs Group boosted their price target on Copa from $138.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Bank of America lowered their price target on Copa from $212.00 to $171.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $168.91.

Copa Trading Up 0.1%

Shares of Copa stock opened at $152.86 on Friday. Copa Holdings, S.A. has a 12-month low of $106.56 and a 12-month high of $160.46. The stock has a market capitalization of $6.29 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The company has a 50-day simple moving average of $136.06 and a 200 day simple moving average of $130.63. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.66.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.73. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Copa had a net margin of 18.76% and a return on equity of 26.01%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.28 earnings per share. Research analysts expect that Copa Holdings, S.A. will post 15.96 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, May 29th. Copa’s payout ratio is presently 39.88%.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama?based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.