Raymond James & Associates boosted its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 20.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,483 shares of the transportation company's stock after purchasing an additional 59,773 shares during the quarter. Raymond James & Associates owned approximately 0.90% of Copa worth $33,265,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Copa in the 1st quarter worth approximately $4,878,000. Deltec Asset Management LLC boosted its stake in Copa by 38.9% in the 1st quarter. Deltec Asset Management LLC now owns 116,071 shares of the transportation company's stock worth $12,090,000 after purchasing an additional 32,526 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Copa in the 1st quarter worth approximately $1,005,000. Price T Rowe Associates Inc. MD boosted its stake in Copa by 219.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company's stock worth $5,164,000 after purchasing an additional 34,027 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in Copa in the 1st quarter worth approximately $3,207,000. 70.09% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a report on Wednesday. Evercore ISI decreased their price objective on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price objective on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. One 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 company. According to MarketBeat, Copa presently has an average rating of "Buy" and an average price target of $148.83.
Read Our Latest Research Report on Copa
Copa Trading Up 0.1 %
NYSE:CPA traded up $0.12 during midday trading on Thursday, hitting $100.84. 288,974 shares of the company traded hands, compared to its average volume of 279,874. The firm's fifty day moving average is $92.57 and its 200-day moving average is $95.05. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $114.00. The firm has a market capitalization of $3.97 billion, a P/E ratio of 7.25, a P/E/G ratio of 0.59 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56.
Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. Copa's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.92 EPS. On average, sell-side analysts predict that Copa Holdings, S.A. will post 14.56 EPS for the current year.
Copa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 6.39%. The ex-dividend date was Friday, August 30th. Copa's dividend payout ratio (DPR) is presently 46.33%.
About Copa
(
Free Report)
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.
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