Channing Global Advisors LLC Decreases Stake in Copa Holdings, S.A. (NYSE:CPA)

Channing Global Advisors LLC reduced its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 53.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,410 shares of the transportation company's stock after selling 6,168 shares during the quarter. Channing Global Advisors LLC's holdings in Copa were worth $508,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CPA. CWA Asset Management Group LLC purchased a new stake in shares of Copa during the 3rd quarter valued at $611,000. Aptus Capital Advisors LLC raised its stake in Copa by 15.5% in the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company's stock valued at $3,542,000 after buying an additional 5,054 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Copa by 219.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company's stock worth $5,164,000 after acquiring an additional 34,027 shares in the last quarter. Fourth Sail Capital LP grew its stake in shares of Copa by 45.0% during the third quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company's stock worth $14,731,000 after acquiring an additional 48,692 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Copa by 7,848.9% during the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company's stock valued at $39,280,000 after acquiring an additional 413,322 shares in the last quarter. Institutional investors own 70.09% of the company's stock.

Wall Street Analysts Forecast Growth

CPA has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Copa from $180.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, August 29th. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a research report on Monday, November 25th. Evercore ISI reduced their price objective on Copa from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen reduced their price target on shares of Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $148.83.

Copa Price Performance

Shares of Copa stock traded up $0.02 during trading hours on Friday, reaching $93.37. The stock had a trading volume of 241,069 shares, compared to its average volume of 288,333. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00. The company has a current ratio of 1.09, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3.68 billion, a PE ratio of 6.18, a PEG ratio of 0.73 and a beta of 1.48. The stock's 50 day moving average is $97.25 and its 200 day moving average is $94.70.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given 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 6.90%. Copa's dividend payout ratio (DPR) is 42.59%.

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.