Kestra Investment Management LLC Trims Stock Position in Copa Holdings, S.A. $CPA

Kestra Investment Management LLC reduced its stake in Copa Holdings, S.A. (NYSE:CPA) by 32.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,943 shares of the transportation company’s stock after selling 7,597 shares during the quarter. Kestra Investment Management LLC’s holdings in Copa were worth $1,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPA. HighTower Advisors LLC purchased a new stake in shares of Copa in the first quarter valued at about $423,000. Hsbc Holdings PLC lifted its position in Copa by 16.7% in the first quarter. Hsbc Holdings PLC now owns 52,671 shares of the transportation company’s stock valued at $4,841,000 after purchasing an additional 7,520 shares during the period. Aptus Capital Advisors LLC lifted its position in Copa by 12.5% in the first quarter. Aptus Capital Advisors LLC now owns 52,242 shares of the transportation company’s stock valued at $4,830,000 after purchasing an additional 5,808 shares during the period. Seven Mile Advisory purchased a new stake in Copa in the 1st quarter valued at approximately $223,000. Finally, Savant Capital LLC acquired a new position in Copa during the 2nd quarter worth approximately $240,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Analysts Set New Price Targets

CPA has been the subject of several recent analyst reports. Itau BBA Securities began coverage on Copa in a report on Sunday, November 30th. They issued a “market perform” rating for the company. Raymond James Financial set a $164.00 price objective on Copa and gave the stock a “strong-buy” rating in a research report on Monday, November 3rd. Citigroup decreased their target price on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. JPMorgan Chase & Co. lowered their price target on shares of Copa from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $159.43.

Copa Stock Performance

Shares of CPA stock opened at $120.11 on Monday. The stock has a fifty day moving average price of $122.83 and a 200 day moving average price of $116.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 1.06. The stock has a market cap of $4.94 billion, a PE ratio of 7.47, a P/E/G ratio of 1.43 and a beta of 0.90. Copa Holdings, S.A. has a 1 year low of $82.54 and a 1 year high of $130.00.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, November 19th. The transportation company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.17. The business had revenue of $913.15 million during the quarter, compared to analysts’ expectations of $917.51 million. Copa had a return on equity of 26.39% and a net margin of 18.83%.The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $3.50 earnings per share. Sell-side analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.61 per share. The ex-dividend date is Monday, December 1st. This represents a $6.44 dividend on an annualized basis and a yield of 5.4%. Copa’s payout ratio is presently 40.05%.

Copa 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.