Point72 Asset Management L.P. Invests $14.09 Million in Copa Holdings, S.A. (NYSE:CPA)

Point72 Asset Management L.P. bought a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 150,197 shares of the transportation company's stock, valued at approximately $14,094,000. Point72 Asset Management L.P. owned approximately 0.38% of Copa at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CPA. Hexagon Capital Partners LLC raised its holdings in shares of Copa by 14.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company's stock worth $85,000 after acquiring an additional 116 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company's stock worth $59,000 after purchasing an additional 143 shares during the last quarter. Carson Advisory Inc. lifted its holdings in shares of Copa by 9.1% in the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company's stock valued at $352,000 after purchasing an additional 308 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Copa by 15.1% during the second quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company's stock valued at $413,000 after buying an additional 569 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Copa by 29.3% during the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock worth $256,000 after buying an additional 610 shares in the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Stock Performance

Shares of NYSE:CPA remained flat at $89.63 during trading on Friday. The stock had a trading volume of 341,687 shares, compared to its average volume of 389,699. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 52-week low of $80.01 and a 52-week high of $114.00. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. The firm's 50-day simple moving average is $96.98 and its two-hundred day simple moving average is $94.06.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business 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 firm's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Copa Holdings, S.A. will post 14.5 earnings per share for the current fiscal year.

Copa Announces Dividend

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

Wall Street Analyst Weigh In

CPA has been the subject of several analyst reports. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. TD Cowen cut their price objective on shares of Copa from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price objective 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. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $148.83.

Copa Company Profile

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.