Copa Holdings, S.A. $CPA Shares Purchased by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its holdings in Copa Holdings, S.A. by 9.8% in Q2, now owning approximately $2.96 million worth of shares.
• Wall Street analysts have given Copa a consensus price target of $155.33, with several firms, including TD Cowen and Morgan Stanley, issuing Buy ratings and raising target prices.
• Copa recently reported earnings of $3.61 per share, exceeding estimates, and has declared a quarterly dividend of $1.61 per share, which translates to an annualized yield of 5.4%.

State of Alaska Department of Revenue boosted its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,949 shares of the transportation company's stock after purchasing an additional 2,400 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of Copa worth $2,963,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in Copa in the second quarter valued at $25,000. Montag A & Associates Inc. bought a new stake in Copa in the first quarter valued at $30,000. Bayforest Capital Ltd bought a new stake in Copa in the first quarter valued at $36,000. US Bancorp DE lifted its stake in Copa by 378.1% in the first quarter. US Bancorp DE now owns 502 shares of the transportation company's stock valued at $46,000 after buying an additional 397 shares during the last quarter. Finally, Quarry LP bought a new stake in Copa in the first quarter valued at $50,000. 70.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPA shares. TD Cowen raised their target price on Copa from $144.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Copa in a research note on Monday, August 11th. Citigroup cut their target price on Copa from $159.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Raymond James Financial reissued a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. Finally, Cowen reissued a "buy" rating on shares of Copa in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $155.33.

Copa Price Performance

NYSE:CPA opened at $118.85 on Wednesday. The business's 50-day moving average price is $115.86 and its 200 day moving average price is $105.45. The firm has a market cap of $4.89 billion, a P/E ratio of 7.73, a PEG ratio of 1.04 and a beta of 1.31. Copa Holdings, S.A. has a 52-week low of $82.54 and a 52-week high of $123.00. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA - Get Free Report) last released its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.36. The firm had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. Copa had a return on equity of 26.22% and a net margin of 18.36%.Copa's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. As a group, sell-side analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Copa's payout ratio is presently 41.87%.

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.

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