Dimensional Fund Advisors LP Acquires 99,955 Shares of Copa Holdings, S.A. $CPA

Key Points

• Dimensional Fund Advisors LP increased its position in Copa Holdings, S.A. by 9.2%, owning 1,184,278 shares valued at approximately $109.5 million by the end of the first quarter.
• Shares of Copa Holdings received multiple analyst upgrades, with Morgan Stanley setting a new target price of $145.00 and Citigroup lowering theirs to $150.00, while still maintaining a "buy" rating.
• Copa reported $3.61 earnings per share for the last quarter, surpassing the consensus estimate of $3.25, and generated a quarterly revenue of $842.6 million, reflecting a 2.8% year-over-year increase.

Dimensional Fund Advisors LP increased its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,184,278 shares of the transportation company's stock after purchasing an additional 99,955 shares during the period. Dimensional Fund Advisors LP owned approximately 2.82% of Copa worth $109,501,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new position in Copa during the first quarter valued at approximately $1,476,000. FCA Corp TX acquired a new position in shares of Copa in the first quarter valued at approximately $277,000. Moerus Capital Management LLC grew its position in Copa by 87.6% during the first quarter. Moerus Capital Management LLC now owns 31,321 shares of the transportation company's stock worth $2,896,000 after buying an additional 14,621 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Copa by 8,175.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the transportation company's stock worth $61,000 after buying an additional 654 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Copa by 39.5% in the 1st quarter. Russell Investments Group Ltd. now owns 17,501 shares of the transportation company's stock valued at $1,618,000 after purchasing an additional 4,951 shares in the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Price Performance

Shares of Copa stock traded up $1.12 during trading on Thursday, hitting $118.34. The stock had a trading volume of 37,157 shares, compared to its average volume of 322,648. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 1.03 and a beta of 1.39. Copa Holdings, S.A. has a 12 month low of $82.54 and a 12 month high of $121.63. The business's 50-day moving average is $111.40 and its 200 day moving average is $101.44. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA - Get Free Report) last released its quarterly 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 net margin of 18.36% and a return on equity of 26.22%. The firm had revenue of $842.60 million for the quarter, compared to analysts' expectations of $833.12 million. During the same quarter in the prior year, the firm posted $2.88 earnings per share. The business's quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

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

Analyst Ratings Changes

CPA has been the subject of a number of research reports. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. TD Cowen lifted their price objective on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Morgan Stanley reissued an "overweight" rating and issued a $145.00 price objective (up from $125.00) on shares of Copa in a research report on Monday, August 11th. Cowen reaffirmed a "buy" rating on shares of Copa in a research report on Friday, August 8th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Copa in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $157.83.

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.