HighTower Advisors LLC Invests $423,000 in Copa Holdings, S.A. $CPA

Key Points

• HighTower Advisors LLC has acquired a new stake of 4,576 shares in Copa Holdings, valued at approximately $423,000, during the first quarter.
• Analysts have a consensus rating of “Buy” for Copa's stock, with a price target that has been raised by Morgan Stanley from $125.00 to $145.00.
• Copa announced a quarterly dividend of $1.61 per share, with a payout ratio of 41.87%, representing an annualized yield of 5.5%.

HighTower Advisors LLC purchased a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,576 shares of the transportation company's stock, valued at approximately $423,000.

A number of other institutional investors have also recently modified their holdings of CPA. Carrhae Capital LLP boosted its position in Copa by 10.8% during the first quarter. Carrhae Capital LLP now owns 777,929 shares of the transportation company's stock worth $71,927,000 after purchasing an additional 76,062 shares in the last quarter. Captrust Financial Advisors boosted its position in Copa by 4,063.6% during the fourth quarter. Captrust Financial Advisors now owns 542,601 shares of the transportation company's stock worth $47,684,000 after purchasing an additional 529,569 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Copa by 26.0% during the first quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock worth $43,786,000 after purchasing an additional 97,656 shares in the last quarter. Millennium Management LLC boosted its position in Copa by 1,279.2% during the fourth quarter. Millennium Management LLC now owns 324,235 shares of the transportation company's stock worth $28,494,000 after purchasing an additional 300,726 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Copa by 45.4% during the fourth quarter. Two Sigma Advisers LP now owns 186,900 shares of the transportation company's stock worth $16,425,000 after purchasing an additional 58,395 shares in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Trading Down 0.0%

NYSE:CPA traded down $0.05 on Thursday, hitting $117.51. 59,785 shares of the stock were exchanged, compared to its average volume of 321,418. The stock has a market cap of $4.84 billion, a PE ratio of 7.64, a PEG ratio of 1.02 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $112.77 and a 200-day moving average of $102.29. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $121.63.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, topping the consensus estimate of $3.25 by $0.36. Copa had a return on equity of 26.22% and a net margin of 18.36%.The company had revenue of $842.60 million during the quarter, compared to analyst estimates of $833.12 million. During the same period in the prior year, the firm posted $2.88 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, August 29th. Copa's dividend payout ratio is presently 41.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup decreased their target price on Copa from $159.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Morgan Stanley restated 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 restated a "buy" rating on shares of Copa in a research report on Friday, August 8th. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Copa in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $154.40.

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.