Knights of Columbus Asset Advisors LLC Makes New $6.27 Million Investment in Copa Holdings, S.A. $CPA

Key Points

• Knights of Columbus Asset Advisors LLC has made a new investment of approximately $6.27 million in Copa Holdings, acquiring 57,002 shares to bring its ownership to 0.14% of the company.
• Copa recently reported quarterly earnings of $3.61 per share, exceeding expectations and reflecting a 2.8% year-over-year revenue increase.
• The company's stock has seen positive analyst sentiment, with several firms raising their price targets, including TD Cowen, which set a new target of $147.00.

Knights of Columbus Asset Advisors LLC purchased a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 57,002 shares of the transportation company's stock, valued at approximately $6,269,000. Knights of Columbus Asset Advisors LLC owned 0.14% of Copa at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC increased its stake in Copa by 56.5% during the first quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock worth $46,916,000 after acquiring an additional 183,184 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 purchasing an additional 122,413 shares during the period. Dimensional Fund Advisors LP lifted its stake in Copa by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after acquiring an additional 99,955 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Copa by 26.0% during the 1st quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock valued at $43,786,000 after acquiring an additional 97,656 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Copa in the 2nd quarter valued at about $9,392,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

Copa Stock Up 0.7%

Shares of NYSE CPA opened at $120.73 on Monday. The business has a 50-day moving average of $116.42 and a two-hundred day moving average of $106.05. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. Copa Holdings, S.A. has a 1 year low of $82.54 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93.

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

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, August 29th. Copa's payout ratio is currently 41.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPA. TD Cowen increased their price target on shares of Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Copa in a report on Friday, August 8th. Morgan Stanley reissued an "overweight" rating and issued a $145.00 price target (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Evercore ISI lifted their target price on Copa from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, Copa presently has an average rating of "Buy" and a consensus price target of $155.33.

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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