Copa Holdings, S.A. (NYSE:CPA) Shares Sold by Deltec Asset Management LLC

Deltec Asset Management LLC lowered its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,335 shares of the transportation company's stock after selling 23,252 shares during the period. Copa accounts for 1.5% of Deltec Asset Management LLC's investment portfolio, making the stock its 15th largest position. Deltec Asset Management LLC owned 0.20% of Copa worth $7,499,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CPA. Carrhae Capital LLP acquired a new stake in shares of Copa during the third quarter valued at about $52,166,000. Vontobel Holding Ltd. raised its holdings in Copa by 7,848.9% in 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. Point72 Asset Management L.P. purchased a new stake in shares of Copa during the 3rd quarter worth $14,094,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Copa during the 3rd quarter worth about $9,764,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of Copa by 250.1% in the 3rd quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company's stock valued at $12,059,000 after buying an additional 91,805 shares in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CPA shares. UBS Group lifted their price target on Copa from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $153.29.

Copa Price Performance

Copa stock traded up $0.67 during mid-day trading on Friday, hitting $91.81. 208,789 shares of the company were exchanged, compared to its average volume of 281,865. The company has a market capitalization of $3.86 billion, a P/E ratio of 6.07, a PEG ratio of 0.68 and a beta of 1.44. The business's 50 day simple moving average is $89.77 and its two-hundred day simple moving average is $92.13. Copa Holdings, S.A. has a 12-month low of $80.01 and a 12-month high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The company had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. Copa had a return on equity of 28.46% and a net margin of 18.20%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.39 EPS. Analysts forecast that Copa Holdings, S.A. will post 14.41 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 7.01%. The ex-dividend date was Monday, December 2nd. Copa's dividend payout ratio (DPR) is currently 42.59%.

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.