Fourth Sail Capital LP Sells 2,889 Shares of Copa Holdings, S.A. (NYSE:CPA)

Key Points

• Fourth Sail Capital LP reduced its stake in Copa Holdings, S.A. by 1.4%, selling 2,889 shares, with the transportation company's stock now accounting for approximately 4.4% of the fund's portfolio.
• Copa reported a quarterly earnings per share of $4.28, surpassing estimates and achieving a revenue of $899.18 million, reflecting a 0.6% year-over-year growth.
• The company also declared a quarterly dividend of $1.61, with an annualized dividend yield of 5.8% and a payout ratio of 43.96%.

Fourth Sail Capital LP decreased its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,901 shares of the transportation company's stock after selling 2,889 shares during the period. Copa accounts for approximately 4.4% of Fourth Sail Capital LP's portfolio, making the stock its 9th biggest position. Fourth Sail Capital LP owned about 0.49% of Copa worth $18,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPA. LPL Financial LLC increased its stake in shares of Copa by 4.3% during the 4th quarter. LPL Financial LLC now owns 3,204 shares of the transportation company's stock worth $282,000 after purchasing an additional 132 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Copa by 16.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,880 shares of the transportation company's stock worth $1,308,000 after purchasing an additional 2,112 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Copa during the fourth quarter worth $225,000. Russell Investments Group Ltd. increased its position in Copa by 3.2% during the fourth quarter. Russell Investments Group Ltd. now owns 12,550 shares of the transportation company's stock worth $1,103,000 after buying an additional 393 shares during the last quarter. Finally, FMR LLC raised its holdings in Copa by 18.1% during the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock valued at $132,151,000 after buying an additional 230,653 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company's stock.

Copa Price Performance

Shares of NYSE:CPA opened at $110.17 on Wednesday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 0.78 and a beta of 1.39. The business has a 50 day moving average price of $108.29 and a 200 day moving average price of $98.80. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a twelve month low of $81.50 and a twelve month high of $114.15.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.51. The company had revenue of $899.18 million during the quarter, compared to analyst estimates of $888.82 million. Copa had a return on equity of 25.91% and a net margin of 17.66%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.19 earnings per share. Research analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $6.44 dividend on an annualized basis and a yield of 5.8%. Copa's dividend payout ratio is 43.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Cowen reiterated a "buy" rating on shares of Copa in a research note on Wednesday, May 14th. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Raymond James Financial upped their target price on Copa from $145.00 to $147.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $152.00.

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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