Copa Holdings, S.A. $CPA Shares Sold by Cape Ann Asset Management Ltd

Key Points

• Cape Ann Asset Management cut its Copa Holdings stake by 30.3% in the first quarter, selling 66,552 shares and leaving it with 153,248 shares worth about $17.4 million.
• Copa reported stronger-than-expected quarterly results, posting EPS of $5.16 versus the $4.43 estimate and revenue of $1.05 billion, up 17% year over year.
• The company also paid a quarterly dividend of $1.71 per share, equal to a 5.0% annualized yield, while analysts remain broadly positive with an average Buy rating and a $171.73 price target.

Cape Ann Asset Management Ltd trimmed its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 30.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,248 shares of the transportation company's stock after selling 66,552 shares during the period. Copa accounts for approximately 4.0% of Cape Ann Asset Management Ltd's investment portfolio, making the stock its 9th biggest position. Cape Ann Asset Management Ltd owned approximately 0.37% of Copa worth $17,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted 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 worth $31,488,000 after acquiring an additional 122,413 shares during the period. Invesco Ltd. raised its holdings in Copa by 585.6% in the 2nd quarter. Invesco Ltd. now owns 94,361 shares of the transportation company's stock valued at $10,377,000 after acquiring an additional 80,598 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Copa during the second quarter worth approximately $435,000. NewEdge Advisors LLC acquired a new stake in Copa in the 2nd quarter worth about $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Copa during the second quarter valued at approximately $12,875,000. 70.09% of the stock is owned by institutional investors.

Copa Price Performance

Shares of NYSE:CPA opened at $136.09 on Friday. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.99 and a beta of 1.00. The stock's 50 day moving average is $143.61 and its 200-day moving average is $133.09. Copa Holdings, S.A. has a twelve month low of $107.44 and a twelve month high of $160.46. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.66.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.73. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.04 billion. Copa had a net margin of 18.76% and a return on equity of 26.01%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.28 EPS. Sell-side analysts forecast that Copa Holdings, S.A. will post 16.6 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, May 29th. This represents a $6.84 annualized dividend and a yield of 5.0%. Copa's dividend payout ratio (DPR) is 39.88%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CPA. Raymond James Financial raised their price objective on Copa from $190.00 to $195.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 14th. The Goldman Sachs Group upped their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Copa from $165.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Copa from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group assumed coverage on Copa in a research note on Thursday, June 18th. They issued a "buy" rating and a $185.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $171.73.

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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