Copa Holdings, S.A. (NYSE:CPA) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lowered its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 50.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,361 shares of the transportation company's stock after selling 7,489 shares during the period. Harbor Capital Advisors Inc.'s holdings in Copa were worth $681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CPA. Northern Trust Corp raised its position in Copa by 19.7% during the 4th quarter. Northern Trust Corp now owns 20,850 shares of the transportation company's stock worth $1,832,000 after buying an additional 3,433 shares during the last quarter. Range Financial Group LLC increased its stake in shares of Copa by 34.8% in the first quarter. Range Financial Group LLC now owns 16,652 shares of the transportation company's stock worth $1,540,000 after acquiring an additional 4,297 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Copa in the fourth quarter worth $244,000. Bridgewater Associates LP purchased a new position in shares of Copa during the fourth quarter worth $961,000. Finally, Invesco Ltd. lifted its position in Copa by 37.1% during the fourth quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock valued at $1,079,000 after purchasing an additional 3,320 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPA has been the topic of several analyst reports. Cowen reaffirmed a "buy" rating on shares of Copa in a research report on Wednesday, May 14th. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research note on Saturday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $153.00.

Copa Stock Performance

CPA traded down $2.02 on Tuesday, reaching $103.71. The stock had a trading volume of 285,246 shares, compared to its average volume of 320,371. The business's 50-day moving average price is $98.85 and its two-hundred day moving average price is $93.91. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 12-month low of $80.01 and a 12-month high of $110.73. The company has a market cap of $4.27 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.51. The firm 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%. Copa's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.19 EPS. Sell-side analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Friday, May 30th. Copa's dividend payout ratio (DPR) is presently 43.96%.

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.