Globeflex Capital L P Invests $13.58 Million in Copa Holdings, S.A. $CPA

Key Points

• Globeflex Capital initiated a $13.58 million position in Copa Holdings during the second quarter, purchasing 87,283 shares. Copa now represents 1.7% of the firm’s portfolio and is its fourth-largest holding.
• Institutional ownership remains high at 70.09%, with Goldman Sachs and Invesco increasing their positions and several other investors establishing new stakes.
• Copa reported quarterly EPS of $1.67, below the $1.88 analyst consensus, while revenue rose 25.7% year over year to $1.06 billion. The company declared a $1.71 quarterly dividend, equal to a 5.3% annualized yield, and analysts maintain a consensus “Buy” rating with a $173.20 price target.

Globeflex Capital L P bought a new position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 87,283 shares of the transportation company's stock, valued at approximately $13,579,000. Copa makes up 1.7% of Globeflex Capital L P's holdings, making the stock its 4th largest position. Globeflex Capital L P owned about 0.21% of Copa at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CPA. Goldman Sachs Group Inc. increased its holdings in Copa by 56.1% in the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company's stock valued at $31,488,000 after buying an additional 122,413 shares in the last quarter. Invesco Ltd. increased its position in Copa by 585.6% during the second quarter. Invesco Ltd. now owns 94,361 shares of the transportation company's stock worth $10,377,000 after buying an additional 80,598 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Copa during the second quarter worth $435,000. NewEdge Advisors LLC acquired a new position in shares of Copa in the second quarter worth $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Copa in the second quarter worth $12,875,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

Copa Trading Down 0.3%

Shares of NYSE CPA opened at $129.59 on Monday. The stock's 50 day moving average price is $143.99 and its two-hundred day moving average price is $133.88. Copa Holdings, S.A. has a 52-week low of $107.44 and a 52-week high of $160.46. The stock has a market capitalization of $5.33 billion, a P/E ratio of 8.52, a PEG ratio of 1.14 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.72.

Copa (NYSE:CPA - Get Free Report) last posted 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 net margin of 15.71% and a return on equity of 22.40%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted $3.61 earnings per share. The company's quarterly revenue was up 25.7% on a year-over-year basis. On average, analysts anticipate that Copa Holdings, S.A. will post 16.05 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, August 31st. Copa's dividend payout ratio (DPR) is presently 44.97%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CPA shares. The Goldman Sachs Group upped their price objective on shares of Copa from $138.00 to $156.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Copa in a research note on Tuesday, August 11th. Jefferies Financial Group assumed coverage on shares of Copa in a research report on Thursday, June 18th. They set a "buy" rating and a $185.00 price target for the company. Wall Street Zen lowered Copa from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, UBS Group decreased their target price on Copa from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Copa currently has a consensus rating of "Buy" and an average target price of $173.20.

Copa 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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