Citigroup Inc. Reduces Holdings in Copa Holdings, S.A. (NYSE:CPA)

Citigroup Inc. trimmed its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 514,665 shares of the transportation company's stock after selling 153,378 shares during the quarter. Citigroup Inc. owned approximately 1.31% of Copa worth $48,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPA. Sprucegrove Investment Management Ltd. increased its holdings in Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company's stock worth $293,743,000 after acquiring an additional 236,850 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company's stock worth $82,990,000 after purchasing an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company's stock valued at $78,950,000 after purchasing an additional 65,525 shares during the period. Carrhae Capital LLP purchased a new position in shares of Copa during the 3rd quarter valued at $52,166,000. Finally, Marathon Asset Management Ltd boosted its holdings in Copa by 1.7% in the 3rd quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company's stock worth $48,297,000 after buying an additional 8,524 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Stock Up 0.9 %

Shares of CPA stock traded up $0.82 on Monday, hitting $94.19. The stock had a trading volume of 690,129 shares, compared to its average volume of 287,580. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The business has a 50 day moving average price of $96.99 and a 200 day moving average price of $94.95. The company has a market cap of $3.71 billion, a PE ratio of 6.18, a P/E/G ratio of 0.73 and a beta of 1.48.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.84%. Copa's dividend payout ratio is presently 42.59%.

Analyst Ratings Changes

Several equities analysts have recently commented on CPA shares. StockNews.com downgraded Copa from a "buy" rating to a "hold" rating in a research report on Saturday, November 16th. Evercore ISI cut their price objective on shares of Copa from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. TD Cowen lowered their target price on shares of Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $148.83.

About Copa

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.