Carrhae Capital LLP Acquires Shares of 124,717 Copa Holdings, S.A. $CPA

Key Points

• Carrhae Capital LLP initiated a new position in Copa Holdings, buying 124,717 shares worth about $15.0 million in the fourth quarter. The stake represents roughly 0.30% of Copa and about 0.6% of Carrhae’s portfolio.
• Wall Street remains broadly bullish on Copa, with a consensus rating of “Buy” and an average price target of $165.80. Recent analyst moves included a mix of price-target cuts and raises, but most firms kept buy/overweight views.
• Copa reported strong quarterly results, posting EPS of $5.16 versus expectations of $4.43 and revenue of $1.05 billion, up 17% year over year. The company also announced a quarterly dividend of $1.71 per share, equal to a 5.0% annualized yield.

Carrhae Capital LLP bought a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 124,717 shares of the transportation company's stock, valued at approximately $15,042,000. Copa makes up approximately 0.6% of Carrhae Capital LLP's investment portfolio, making the stock its 28th largest position. Carrhae Capital LLP owned about 0.30% of Copa as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CPA. Focus Financial Network Inc. raised its holdings in Copa by 4.9% in the fourth quarter. Focus Financial Network Inc. now owns 2,193 shares of the transportation company's stock valued at $264,000 after acquiring an additional 102 shares in the last quarter. Burney Co. increased its position in shares of Copa by 1.9% in the 4th quarter. Burney Co. now owns 6,032 shares of the transportation company's stock worth $728,000 after purchasing an additional 111 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Copa by 3.1% in the 4th quarter. MGO One Seven LLC now owns 3,743 shares of the transportation company's stock valued at $451,000 after purchasing an additional 112 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Copa by 5.8% during the third quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company's stock worth $256,000 after purchasing an additional 119 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Copa by 90.2% during the third quarter. US Bancorp DE now owns 253 shares of the transportation company's stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group lowered their price objective on Copa from $190.00 to $185.00 and set a "buy" rating for the company in a report on Friday, March 27th. Morgan Stanley restated an "overweight" rating and set a $190.00 price objective on shares of Copa in a research note on Monday, February 9th. Bank of America lowered their target price on shares of Copa from $212.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, March 18th. The Goldman Sachs Group raised their price target on shares of Copa from $138.00 to $156.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Copa from $170.00 to $165.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $165.80.

Copa Stock Down 0.1%

CPA stock opened at $136.99 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.06. The firm has a market cap of $5.64 billion, a PE ratio of 7.99, a P/E/G ratio of 1.06 and a beta of 0.94. Copa Holdings, S.A. has a 12 month low of $99.32 and a 12 month high of $156.41. The firm has a 50 day simple moving average of $118.67 and a 200 day simple moving average of $125.76.

Copa (NYSE:CPA - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $0.73. Copa had a return on equity of 26.01% and a net margin of 18.76%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $4.28 EPS. Copa's revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts forecast that Copa Holdings, S.A. will post 15.74 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, May 29th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.0%. Copa's payout ratio is currently 39.88%.

Copa Company Profile

Copa Holdings, SA NYSE: CPA is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

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