Baillie Gifford & Co. Sells 73,984 Shares of Copa Holdings, S.A. (NYSE:CPA)

Key Points

• Baillie Gifford & Co. reduced its stake in Copa Holdings by 2.4%, selling 73,984 shares in the first quarter and owning approximately 7.11% of the company worth $276.3 million.
• Analysts have shown a positive outlook for Copa, with a consensus rating of "Buy" and a price target of $152.00, following recent upgrades from Cowen and Raymond James Financial.
• Copa recently declared a quarterly dividend of $1.61 per share, yielding 5.83%, reflecting a payout ratio of 43.96%.

Baillie Gifford & Co. lessened its position in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,988,263 shares of the transportation company's stock after selling 73,984 shares during the quarter. Baillie Gifford & Co. owned about 7.11% of Copa worth $276,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CPA. Captrust Financial Advisors grew its position in Copa by 4,063.6% in the 4th quarter. Captrust Financial Advisors now owns 542,601 shares of the transportation company's stock worth $47,684,000 after purchasing an additional 529,569 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Copa in the 4th quarter worth $46,433,000. Canada Pension Plan Investment Board acquired a new stake in Copa in the 4th quarter worth $40,311,000. Millennium Management LLC grew its position in Copa by 1,279.2% in the 4th quarter. Millennium Management LLC now owns 324,235 shares of the transportation company's stock worth $28,494,000 after purchasing an additional 300,726 shares during the last quarter. Finally, FMR LLC grew its position in Copa by 18.1% in the 4th quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock worth $132,151,000 after purchasing an additional 230,653 shares during the last quarter. Institutional investors own 70.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cowen restated a "buy" rating on shares of Copa in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Raymond James Financial raised their price target on shares of Copa from $145.00 to $147.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $152.00.

Copa Price Performance

Shares of Copa stock opened at $110.40 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.88 and a current ratio of 0.99. The firm's 50-day simple moving average is $107.47 and its 200-day simple moving average is $97.63. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.15. The firm has a market cap of $4.55 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31.

Copa (NYSE:CPA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The transportation company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.51. Copa had a net margin of 17.66% and a return on equity of 25.91%. The business had revenue of $899.18 million for the quarter, compared to analyst estimates of $888.82 million. During the same period in the previous year, the business earned $4.19 EPS. The firm's revenue was up .6% on a year-over-year basis. As a group, research analysts expect that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Friday, May 30th. Copa's dividend payout ratio is currently 43.96%.

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.

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