Raymond James Financial Inc. purchased a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 528,372 shares of the transportation company's stock, valued at approximately $46,433,000. Raymond James Financial Inc. owned 1.26% of Copa at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marathon Asset Management Ltd grew its holdings in shares of Copa by 1.3% during the 4th quarter. Marathon Asset Management Ltd now owns 521,402 shares of the transportation company's stock worth $45,821,000 after purchasing an additional 6,723 shares during the period. Wishbone Management LP grew its holdings in shares of Copa by 20.0% during the 3rd quarter. Wishbone Management LP now owns 420,000 shares of the transportation company's stock worth $39,413,000 after purchasing an additional 70,000 shares during the period. Cape Ann Asset Management Ltd purchased a new stake in shares of Copa during the 4th quarter worth about $20,195,000. Fourth Sail Capital LP grew its holdings in shares of Copa by 32.4% during the 4th quarter. Fourth Sail Capital LP now owns 207,790 shares of the transportation company's stock worth $18,261,000 after purchasing an additional 50,805 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Copa during the 3rd quarter worth about $14,094,000. Hedge funds and other institutional investors own 70.09% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Copa from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Cowen reiterated 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $153.29.
Check Out Our Latest Research Report on Copa
Copa Stock Performance
Copa stock opened at $94.52 on Wednesday. The stock's 50 day moving average price is $92.31 and its 200 day moving average price is $93.06. The firm has a market capitalization of $3.97 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00.
Copa (NYSE:CPA - Get Free Report) last announced its earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. As a group, sell-side analysts expect that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.
Copa Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Friday, February 28th. Copa's dividend payout ratio (DPR) is currently 44.23%.
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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