Canada Pension Plan Investment Board Invests $40.31 Million in Copa Holdings, S.A. (NYSE:CPA)

Canada Pension Plan Investment Board bought a new position in Copa Holdings, S.A. (NYSE:CPA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 458,702 shares of the transportation company's stock, valued at approximately $40,311,000. Canada Pension Plan Investment Board owned about 1.09% of Copa at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Copa in the 4th quarter worth approximately $1,438,000. Barclays PLC increased its position in shares of Copa by 44.2% during the third quarter. Barclays PLC now owns 24,721 shares of the transportation company's stock valued at $2,319,000 after purchasing an additional 7,576 shares during the period. Range Financial Group LLC acquired a new position in shares of Copa in the 4th quarter valued at $1,086,000. Bridgewater Associates LP bought a new position in Copa during the fourth quarter worth about $961,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Copa in the 4th quarter valued at $241,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cowen restated a "buy" rating on shares of Copa in a research report on Tuesday, February 18th. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, UBS Group increased their price target on Copa from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Copa presently has a consensus rating of "Buy" and an average target price of $153.29.

Copa Stock Up 3.0 %

Shares of Copa stock traded up $2.65 during trading hours on Thursday, reaching $90.36. 62,549 shares of the company's stock were exchanged, compared to its average volume of 314,479. The stock has a market cap of $3.80 billion, a P/E ratio of 6.21, a P/E/G ratio of 0.87 and a beta of 1.11. The company has a 50 day moving average of $91.84 and a two-hundred day moving average of $92.92. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.99 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.13%. The ex-dividend date was Friday, February 28th. Copa's payout ratio is 44.23%.

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.