Copa Holdings, S.A. $CPA is Sprucegrove Investment Management Ltd.'s 2nd Largest Position

Sprucegrove Investment Management Ltd. reduced its position in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,911,095 shares of the transportation company's stock after selling 390,789 shares during the period. Copa makes up about 27.8% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 2nd biggest position. Sprucegrove Investment Management Ltd. owned approximately 4.64% of Copa worth $230,497,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Copa by 56.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company's stock valued at $31,488,000 after purchasing an additional 122,413 shares during the period. Invesco Ltd. grew its position in Copa by 585.6% during the second quarter. Invesco Ltd. now owns 94,361 shares of the transportation company's stock valued at $10,377,000 after buying an additional 80,598 shares during the period. Qube Research & Technologies Ltd bought a new position in Copa in the second quarter worth approximately $435,000. NewEdge Advisors LLC bought a new position in Copa in the second quarter worth approximately $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Copa during the 2nd quarter worth $12,875,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Copa in a research note on Wednesday, January 21st. UBS Group cut their price target on Copa from $190.00 to $185.00 and set a "buy" rating for the company in a report on Friday, March 27th. Bank of America reduced their price target on Copa from $212.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Evercore reaffirmed an "outperform" rating and set a $185.00 price objective on shares of Copa in a research report on Friday, February 13th. Finally, The Goldman Sachs Group upgraded Copa from a "neutral" rating to a "buy" rating and cut their price objective for the company from $151.00 to $138.00 in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Copa presently has an average rating of "Buy" and a consensus target price of $165.00.

Copa Trading Up 2.4%

Shares of Copa stock opened at $113.66 on Wednesday. Copa Holdings, S.A. has a fifty-two week low of $93.33 and a fifty-two week high of $156.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.20 and a current ratio of 1.31. The company has a market capitalization of $4.68 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.95 and a beta of 0.94. The company has a fifty day moving average of $120.41 and a 200 day moving average of $125.59.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The transportation company reported $4.46 EPS for the quarter, beating the consensus estimate of $4.44 by $0.02. The business had revenue of $962.89 million for the quarter, compared to the consensus estimate of $959.22 million. Copa had a return on equity of 25.62% and a net margin of 18.57%.The business's revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 earnings per share. On average, sell-side analysts anticipate that Copa Holdings, S.A. will post 14.21 earnings per share for the current fiscal year.

Copa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $6.84 dividend on an annualized basis and a yield of 6.0%. This is a boost from Copa's previous quarterly dividend of $1.61. Copa's payout ratio is presently 42.04%.

About Copa

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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