Ameriprise Financial Inc. Sells 3,320 Shares of Copa Holdings, S.A. (NYSE:CPA)

Ameriprise Financial Inc. trimmed its position in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,519 shares of the transportation company's stock after selling 3,320 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Copa worth $2,946,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Copa by 44.2% in the third quarter. Barclays PLC now owns 24,721 shares of the transportation company's stock valued at $2,319,000 after buying an additional 7,576 shares in the last quarter. Bridgewater Associates LP acquired a new position in shares of Copa in the 4th quarter worth $961,000. Invesco Ltd. raised its position in shares of Copa by 37.1% during the fourth quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock worth $1,079,000 after purchasing an additional 3,320 shares during the period. Northern Trust Corp lifted its holdings in shares of Copa by 19.7% during the fourth quarter. Northern Trust Corp now owns 20,850 shares of the transportation company's stock valued at $1,832,000 after purchasing an additional 3,433 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Copa by 12.9% in the 4th quarter. Marshall Wace LLP now owns 178,127 shares of the transportation company's stock valued at $15,654,000 after purchasing an additional 20,324 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Copa from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Cowen restated a "buy" rating on shares of Copa in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Copa presently has a consensus rating of "Moderate Buy" and an average target price of $153.00.

Copa Stock Down 1.6%

Shares of Copa stock traded down $1.81 on Friday, hitting $108.01. 427,463 shares of the company traded hands, compared to its average volume of 313,448. Copa Holdings, S.A. has a 12-month low of $80.01 and a 12-month high of $110.56. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.45 billion, a PE ratio of 7.42, a PEG ratio of 0.87 and a beta of 1.26. The company has a 50-day moving average price of $94.59 and a 200 day moving average price of $93.18.

Copa (NYSE:CPA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.51. Copa had a return on equity of 26.70% and a net margin of 17.67%. The firm had revenue of $899.18 million for the quarter, compared to the consensus estimate of $888.82 million. During the same quarter in the previous year, the company posted $4.19 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $6.44 annualized dividend and a yield of 5.96%. Copa's payout ratio is 43.96%.

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.