Hsbc Holdings PLC Reduces Stake in Copa Holdings, S.A. $CPA

Key Points

• HSBC Holdings PLC reduced its stake in Copa Holdings by 22% in the fourth quarter, selling 11,776 shares and leaving it with 41,753 shares valued at about $5.06 million.
• Analysts remain broadly positive on Copa, with a consensus rating of “Buy” and an average price target of $168.91 after several firms recently raised or trimmed their targets.
• Copa posted strong quarterly results and pays a sizable dividend, reporting EPS of $5.16 versus expectations of $4.43 and revenue growth of 17%, while its latest quarterly dividend of $1.71 per share implies a 4.6% annual yield.

Hsbc Holdings PLC lowered its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,753 shares of the transportation company's stock after selling 11,776 shares during the quarter. Hsbc Holdings PLC owned approximately 0.10% of Copa worth $5,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Focus Financial Network Inc. grew its position in Copa by 4.9% during the fourth quarter. Focus Financial Network Inc. now owns 2,193 shares of the transportation company's stock valued at $264,000 after acquiring an additional 102 shares during the last quarter. Burney Co. raised its stake in shares of Copa by 1.9% during the fourth quarter. Burney Co. now owns 6,032 shares of the transportation company's stock worth $728,000 after acquiring an additional 111 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Copa by 3.1% in the 4th quarter. MGO One Seven LLC now owns 3,743 shares of the transportation company's stock worth $451,000 after acquiring an additional 112 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Copa by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company's stock worth $256,000 after acquiring an additional 119 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Copa by 90.2% in the 3rd quarter. US Bancorp DE now owns 253 shares of the transportation company's stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company's stock.

Analyst Upgrades and Downgrades

CPA has been the topic of several recent research reports. UBS Group increased their target price on shares of Copa from $185.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Citigroup cut their price target on shares of Copa from $155.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th. The Goldman Sachs Group raised their price objective on Copa from $138.00 to $156.00 and gave the company a "buy" rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price objective on Copa from $165.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Finally, Evercore reissued an "outperform" rating and issued a $175.00 target price on shares of Copa in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Copa has a consensus rating of "Buy" and a consensus price target of $168.91.

Copa Stock Up 1.7%

Shares of NYSE CPA opened at $149.95 on Friday. The firm's fifty day moving average is $138.81 and its 200 day moving average is $131.57. Copa Holdings, S.A. has a 52 week low of $106.56 and a 52 week high of $160.46. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.08 and a beta of 1.00.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.73. Copa had a net margin of 18.76% and a return on equity of 26.01%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the company posted $4.28 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that Copa Holdings, S.A. will post 16.54 earnings per share for the current year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, May 29th. Copa's dividend payout ratio is currently 39.88%.

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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