Fmr LLC Sells 106,858 Shares of Copa Holdings, S.A. (NYSE:CPA)

FMR LLC cut its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273,119 shares of the transportation company's stock after selling 106,858 shares during the period. FMR LLC owned 3.23% of Copa worth $119,469,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CPA. Hexagon Capital Partners LLC lifted its stake in Copa by 14.9% in the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company's stock valued at $85,000 after acquiring an additional 116 shares during the last quarter. Rhumbline Advisers raised its holdings in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company's stock valued at $132,000 after buying an additional 1,380 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Copa by 29.3% during the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock valued at $256,000 after acquiring an additional 610 shares during the last quarter. Qsemble Capital Management LP bought a new position in shares of Copa in the 2nd quarter valued at approximately $268,000. Finally, nVerses Capital LLC acquired a new stake in Copa in the 3rd quarter worth approximately $291,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Stock Performance

Shares of NYSE CPA traded down $0.23 during trading hours on Thursday, reaching $89.63. The stock had a trading volume of 350,036 shares, compared to its average volume of 289,152. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.71 and a beta of 1.45. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00. The business's fifty day moving average is $97.18 and its two-hundred day moving average is $94.20. 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 announced its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The company had revenue of $854.71 million during the quarter, compared to analysts' expectations of $864.90 million. During the same quarter in the prior year, the company posted $4.39 EPS. The business's revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Copa Holdings, S.A. will post 14.5 EPS for the current year.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Monday, December 2nd. Copa's payout ratio is 42.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPA. JPMorgan Chase & Co. dropped their price target 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 downgraded Copa from a "buy" rating to a "hold" rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their price target on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.