Copa Holdings, S.A. $CPA Stock Position Increased by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Copa Holdings position by 64.9% in the third quarter, acquiring 62,789 additional shares for a total stake valued at approximately $21 million. Institutional investors collectively own 70.09% of the airline.
• Copa’s latest quarterly results fell short of expectations, with EPS of $1.67 versus the $1.88 consensus and revenue of $1.06 billion versus $1.08 billion expected. However, revenue rose 25.7% year over year, and analysts anticipate full-year EPS of $15.22.
• The company pays a quarterly dividend of $1.71, equivalent to $6.84 annually and a 5.1% yield. Despite the stock trading near $134, analysts maintain a consensus “Buy” rating with a $172.20 target price.

Artemis Investment Management LLP lifted its position in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 64.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,559 shares of the transportation company's stock after acquiring an additional 62,789 shares during the quarter. Artemis Investment Management LLP owned 0.39% of Copa worth $21,038,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC raised its holdings in shares of Copa by 59.3% in the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the transportation company's stock worth $35,000 after buying an additional 99 shares during the period. Versant Capital Management Inc boosted its holdings in Copa by 14.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,369 shares of the transportation company's stock valued at $181,000 after acquiring an additional 172 shares during the period. Confluence Investment Management LLC boosted its holdings in Copa by 40.5% during the 3rd quarter. Confluence Investment Management LLC now owns 3,094 shares of the transportation company's stock valued at $408,000 after acquiring an additional 892 shares during the period. IPG Investment Advisors LLC bought a new position in Copa in the 2nd quarter valued at $274,000. Finally, WINTON GROUP Ltd bought a new position in Copa in the 2nd quarter valued at $1,509,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Stock Down 1.4%

Shares of CPA stock opened at $134.41 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. Copa Holdings, S.A. has a twelve month low of $107.44 and a twelve month high of $160.46. The stock has a 50 day moving average of $133.29 and a 200 day moving average of $132.97. The stock has a market cap of $5.53 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.26 and a beta of 1.05.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.21). Copa had a return on equity of 22.40% and a net margin of 15.71%.The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the firm posted $3.61 EPS. Copa's revenue was up 25.7% compared to the same quarter last year. As a group, sell-side analysts expect that Copa Holdings, S.A. will post 15.22 EPS for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.1%. Copa's dividend payout ratio is currently 44.97%.

Wall Street Analysts Forecast Growth

CPA has been the subject of several research reports. Raymond James Financial lowered their target price on Copa from $195.00 to $185.00 and set a "strong-buy" rating for the company in a report on Monday, August 24th. Jefferies Financial Group began coverage on Copa in a research note on Thursday, June 18th. They set a "buy" rating and a $185.00 price target on the stock. Wall Street Zen downgraded Copa from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings restated a "buy (b)" rating on shares of Copa in a report on Tuesday, August 11th. Finally, UBS Group lowered their price objective on shares of Copa from $195.00 to $185.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. One equities 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $172.20.

About Copa

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Copa Airlines, a commercial carrier serving destinations throughout the Americas. The company provides scheduled passenger and cargo air transportation, connecting Panama and other Latin American markets with destinations in North, Central and South America and the Caribbean.

Copa Airlines operates its primary hub at Tocumen International Airport in Panama City. The hub supports the airline's “Hub of the Americas” network, allowing passengers to connect between cities across the region.

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