Caitong International Asset Management Co. Ltd Sells 330 Shares of Copa Holdings, S.A. $CPA

Caitong International Asset Management Co. Ltd cut its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 49.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332 shares of the transportation company’s stock after selling 330 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Copa were worth $37,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Copa by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company’s stock worth $109,501,000 after purchasing an additional 99,955 shares during the last quarter. Carrhae Capital LLP increased its stake in shares of Copa by 10.8% during the 1st quarter. Carrhae Capital LLP now owns 777,929 shares of the transportation company’s stock worth $71,927,000 after purchasing an additional 76,062 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Copa by 16.6% during the 2nd quarter. Vontobel Holding Ltd. now owns 552,249 shares of the transportation company’s stock worth $60,731,000 after purchasing an additional 78,687 shares during the last quarter. Millennium Management LLC increased its stake in shares of Copa by 56.5% during the 1st quarter. Millennium Management LLC now owns 507,419 shares of the transportation company’s stock worth $46,916,000 after purchasing an additional 183,184 shares during the last quarter. Finally, Wishbone Management LP increased its stake in shares of Copa by 12.5% during the 1st quarter. Wishbone Management LP now owns 472,500 shares of the transportation company’s stock worth $43,687,000 after purchasing an additional 52,500 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

Copa Stock Up 0.9%

Shares of CPA opened at $126.41 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Copa Holdings, S.A. has a 12 month low of $82.54 and a 12 month high of $130.00. The firm’s 50 day moving average is $119.70 and its 200-day moving average is $109.61. The stock has a market capitalization of $5.20 billion, a PE ratio of 8.22, a P/E/G ratio of 1.10 and a beta of 1.30.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.36. The business had revenue of $842.60 million during the quarter, compared to analysts’ expectations of $833.12 million. Copa had a return on equity of 26.22% and a net margin of 18.36%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 earnings per share. Equities research analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Friday, August 29th. Copa’s payout ratio is 41.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CPA shares. Morgan Stanley restated an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Copa in a research note on Monday, August 11th. TD Cowen boosted their price objective on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Copa in a research note on Friday, August 8th. Citigroup decreased their price target on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Finally, Evercore ISI upped their price target on shares of Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $155.33.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.