Copa Holdings, S.A. (NYSE:CPA) is Shellback Capital LP's 2nd Largest Position

Shellback Capital LP increased its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 440,000 shares of the transportation company's stock after purchasing an additional 53,806 shares during the quarter. Copa accounts for 3.1% of Shellback Capital LP's portfolio, making the stock its 2nd largest position. Shellback Capital LP owned about 1.12% of Copa worth $41,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Sprucegrove Investment Management Ltd. increased its position in shares of Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company's stock valued at $293,743,000 after purchasing an additional 236,850 shares during the last quarter. Capital World Investors increased its holdings in Copa by 5.9% during the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company's stock valued at $417,134,000 after buying an additional 218,236 shares during the last quarter. Raymond James & Associates raised its position in Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company's stock worth $28,050,000 after acquiring an additional 112,143 shares during the period. Sei Investments Co. boosted its stake in shares of Copa by 34.8% during the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company's stock worth $36,047,000 after acquiring an additional 89,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew 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 acquiring an additional 65,525 shares during the period. Institutional investors own 70.09% of the company's stock.

Copa Trading Up 4.1 %

Shares of CPA opened at $93.94 on Friday. Copa Holdings, S.A. has a 1 year low of $78.12 and a 1 year high of $114.00. The company has a 50 day simple moving average of $89.39 and a two-hundred day simple moving average of $95.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The firm has a market cap of $3.70 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.11. Copa had a net margin of 19.31% and a return on equity of 30.81%. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same period in the previous year, the firm posted $3.92 EPS. Copa's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts expect that Copa Holdings, S.A. will post 14.53 earnings per share for the current fiscal year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend was Friday, August 30th. Copa's payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen decreased their target price on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Evercore ISI decreased their price objective on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, August 29th. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a report on Wednesday, June 19th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. One research 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. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $148.83.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.

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