Copa Holdings, S.A. $CPA Shares Sold by Deltec Asset Management LLC

Key Points

• Deltec Asset Management LLC reduced its holdings in Copa Holdings by 15.8% during the second quarter, owning 59,375 shares valued at approximately $6.53 million as of its latest SEC filing.
• Analysts are optimistic, with several firms raising price targets for Copa, including Evercore ISI increasing it from $150.00 to $160.00 and Morgan Stanley adjusting theirs from $125.00 to $145.00.
• Copa Holdings declared a quarterly dividend of $1.61 per share, resulting in a yield of 5.4%, with a payout ratio of 41.87% as of the recent announcement.

Deltec Asset Management LLC trimmed its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 15.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,375 shares of the transportation company's stock after selling 11,153 shares during the period. Copa makes up approximately 1.2% of Deltec Asset Management LLC's investment portfolio, making the stock its 21st largest holding. Deltec Asset Management LLC owned 0.14% of Copa worth $6,529,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CPA. Millennium Management LLC increased its holdings in shares of Copa by 56.5% during the first quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock valued at $46,916,000 after purchasing an additional 183,184 shares during the period. Goldman Sachs Group Inc. grew its holdings in Copa by 56.1% during the first 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. Dimensional Fund Advisors LP grew its holdings in Copa by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after acquiring an additional 99,955 shares during the period. Vontobel Holding Ltd. grew its holdings in Copa by 26.0% during the first quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock worth $43,786,000 after acquiring an additional 97,656 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Copa during the second quarter worth about $9,392,000. 70.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CPA shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. Evercore ISI lifted their price target on Copa from $150.00 to $160.00 and gave the stock an "outperform" rating in a research note on Monday. Cowen reissued a "buy" rating on shares of Copa in a research note on Friday, August 8th. Morgan Stanley reissued an "overweight" rating and issued a $145.00 price target (up previously from $125.00) on shares of Copa in a research note on Monday, August 11th. Finally, TD Cowen lifted their price target on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $155.33.

Copa Stock Down 0.3%

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

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

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, August 29th. Copa's dividend payout ratio (DPR) is currently 41.87%.

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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