SPX Gestao de Recursos Ltda Sells 32,735 Shares of Copa Holdings, S.A. (NYSE:CPA)

SPX Gestao de Recursos Ltda decreased its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,029 shares of the transportation company's stock after selling 32,735 shares during the period. Copa makes up about 4.8% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 5th largest holding. SPX Gestao de Recursos Ltda owned about 0.98% of Copa worth $36,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPA. Bell Investment Advisors Inc lifted its stake in Copa by 29.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company's stock valued at $59,000 after acquiring an additional 143 shares in the last quarter. Carson Advisory Inc. raised its holdings in shares of Copa by 9.1% in the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company's stock valued at $352,000 after purchasing an additional 308 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Copa by 10.3% in the third quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company's stock worth $490,000 after purchasing an additional 488 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Copa by 15.1% during the second quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company's stock worth $413,000 after purchasing an additional 569 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock valued at $256,000 after purchasing an additional 610 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPA has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. StockNews.com downgraded Copa from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $148.83.

Copa Stock Performance

NYSE CPA traded down $0.57 during trading on Friday, reaching $87.56. 463,279 shares of the company's stock were exchanged, compared to its average volume of 292,013. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99. The business has a 50 day moving average price of $96.43 and a 200-day moving average price of $93.62. The stock has a market capitalization of $3.45 billion, a P/E ratio of 5.79, a PEG ratio of 0.72 and a beta of 1.45. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The business had revenue of $854.71 million for the quarter, compared to analysts' expectations of $864.90 million. During the same quarter in the prior year, the business earned $4.39 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts forecast that Copa Holdings, S.A. will post 14.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 7.35%. The ex-dividend date was Monday, December 2nd. Copa's payout ratio 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.