Pictet Asset Management Holding SA increased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,849 shares of the transportation company's stock after buying an additional 18,292 shares during the period. Pictet Asset Management Holding SA owned about 0.50% of Copa worth $18,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in Copa during the third quarter worth $82,000. EverSource Wealth Advisors LLC raised its position in shares of Copa by 147.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the transportation company's stock worth $87,000 after purchasing an additional 591 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Copa by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,685 shares of the transportation company's stock valued at $236,000 after buying an additional 521 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Copa by 90.0% in the 4th quarter. SG Americas Securities LLC now owns 2,719 shares of the transportation company's stock worth $239,000 after buying an additional 1,288 shares during the last quarter. Finally, Optimist Retirement Group LLC purchased a new stake in Copa during the 3rd quarter worth approximately $240,000. Institutional investors and hedge funds own 70.09% of the company's stock.
Copa Trading Down 5.0 %
Shares of CPA traded down $4.57 during midday trading on Friday, reaching $86.95. The company had a trading volume of 482,073 shares, compared to its average volume of 301,804. The firm has a 50 day simple moving average of $93.52 and a 200-day simple moving average of $93.58. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.66 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. Copa Holdings, S.A. has a 1-year low of $80.01 and a 1-year high of $114.00.
Copa (NYSE:CPA - Get Free Report) last issued its earnings results on Wednesday, February 12th. The transportation company reported $3.99 EPS for the quarter, topping analysts' consensus estimates of $3.84 by $0.15. Copa had a net margin of 17.67% and a return on equity of 26.70%. Research analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.
Copa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $1.61 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $6.44 annualized dividend and a yield of 7.41%. Copa's payout ratio is 44.23%.
Analysts Set New Price Targets
Several research firms have recently weighed in on CPA. StockNews.com downgraded Copa from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group raised their price objective on Copa from $160.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Finally, Cowen reaffirmed a "buy" rating on shares of Copa in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $153.29.
Read Our Latest Research Report on CPA
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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