TT International Asset Management LTD Purchases Shares of 50,340 Copa Holdings, S.A. (NYSE:CPA)

TT International Asset Management LTD bought a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 50,340 shares of the transportation company's stock, valued at approximately $4,723,000. Copa accounts for about 0.6% of TT International Asset Management LTD's holdings, making the stock its 28th biggest holding. TT International Asset Management LTD owned about 0.13% of Copa at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPA. Bell Investment Advisors Inc boosted its position in Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company's stock worth $59,000 after buying an additional 143 shares during the period. Carson Advisory Inc. boosted its position in Copa by 9.1% during the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company's stock worth $352,000 after buying an additional 308 shares during the period. Quantinno Capital Management LP lifted its position in shares of Copa by 10.3% in the 3rd quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company's stock worth $490,000 after purchasing an additional 488 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Copa by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company's stock worth $413,000 after purchasing an additional 569 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Copa by 29.3% during the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock valued at $256,000 after acquiring an additional 610 shares during the period. 70.09% of the stock is owned by institutional investors.

Copa Stock Performance

NYSE:CPA traded up $1.68 during trading hours on Wednesday, reaching $90.20. The company had a trading volume of 153,030 shares, compared to its average volume of 289,953. The company has a current ratio of 1.09, a quick ratio of 0.99 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 firm has a market cap of $3.56 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 0.70 and a beta of 1.45. The firm's 50 day moving average price is $96.78 and its 200-day moving average price is $93.76.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $864.90 million. During the same quarter last year, the company posted $4.39 EPS. The company's revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Copa Holdings, S.A. will post 14.48 EPS for the current year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date is Monday, December 2nd. Copa's dividend payout ratio (DPR) is 42.59%.

Analysts Set New Price Targets

A number of analysts have commented on CPA shares. StockNews.com lowered shares of Copa from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. decreased their price objective on shares of Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $148.83.

Copa 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.