Two Sigma Advisers LP increased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 250.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,505 shares of the transportation company's stock after purchasing an additional 91,805 shares during the quarter. Two Sigma Advisers LP owned approximately 0.33% of Copa worth $12,059,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in CPA. Carrhae Capital LLP purchased a new stake in shares of Copa during the third quarter worth about $52,166,000. Vontobel Holding Ltd. grew its holdings in Copa by 7,848.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company's stock valued at $39,280,000 after buying an additional 413,322 shares in the last quarter. Sprucegrove Investment Management Ltd. grew its holdings in Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company's stock valued at $293,743,000 after buying an additional 236,850 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Copa during the 3rd quarter valued at approximately $14,094,000. Finally, Raymond James & Associates grew its holdings in Copa by 61.4% during the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company's stock valued at $28,050,000 after buying an additional 112,143 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company's stock.
Copa Trading Up 1.1 %
Shares of NYSE:CPA traded up $0.97 during trading on Tuesday, hitting $88.52. The company had a trading volume of 399,261 shares, compared to its average volume of 290,424. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a fifty day simple moving average of $96.86 and a two-hundred day simple moving average of $93.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99.
Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $854.71 million during the quarter, compared to analyst estimates of $864.90 million. Copa had a return on equity of 28.46% and a net margin of 18.20%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company earned $4.39 EPS. As a group, equities analysts forecast that Copa Holdings, S.A. will post 14.48 earnings per share for the current 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 paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date of this dividend is Monday, December 2nd. Copa's dividend payout ratio is currently 42.59%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on CPA shares. JPMorgan Chase & Co. cut their price target on Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $148.83.
View Our Latest Stock 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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