Letko Brosseau & Associates Inc. Buys 7,450 Shares of Copa Holdings, S.A. $CPA

Key Points

• Letko Brosseau & Associates increased its stake in Copa Holdings by 4.0% in the fourth quarter, buying 7,450 more shares and bringing its total to 195,203 shares worth about $23.5 million.
• Wall Street remains mostly bullish on Copa, with analysts largely rating it a Buy or Overweight and an average price target of $167.30, despite some recent target cuts.
• Copa posted strong quarterly results, beating EPS estimates with $5.16 per share and growing revenue 17% year over year, while also announcing a quarterly dividend of $1.71 per share.

Letko Brosseau & Associates Inc. raised its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,203 shares of the transportation company's stock after purchasing an additional 7,450 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.47% of Copa worth $23,543,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in Copa by 657.8% in the 3rd quarter. GSA Capital Partners LLP now owns 19,786 shares of the transportation company's stock worth $2,351,000 after purchasing an additional 17,175 shares in the last quarter. Capital World Investors raised its holdings in Copa by 0.9% in the 3rd quarter. Capital World Investors now owns 4,573,570 shares of the transportation company's stock worth $543,432,000 after purchasing an additional 40,285 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Copa by 14.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 65,537 shares of the transportation company's stock worth $7,787,000 after purchasing an additional 8,510 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Copa by 33.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 104,675 shares of the transportation company's stock worth $12,438,000 after purchasing an additional 26,158 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Copa by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 642,777 shares of the transportation company's stock worth $76,375,000 after purchasing an additional 22,177 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPA shares. Bank of America decreased their price objective on shares of Copa from $212.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. JPMorgan Chase & Co. upped their price target on Copa from $165.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Barclays reduced their price target on Copa from $185.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th. Evercore reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Copa in a research note on Friday, May 15th. Finally, UBS Group upped their price target on Copa from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $167.30.

Copa Price Performance

Shares of CPA stock opened at $134.96 on Wednesday. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.05 and a beta of 1.00. The business's fifty day moving average is $124.78 and its 200 day moving average is $126.82. Copa Holdings, S.A. has a twelve month low of $99.32 and a twelve month high of $156.41. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.66.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.73. Copa had a return on equity of 26.01% and a net margin of 18.76%.The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the firm earned $4.28 earnings per share. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts expect that Copa Holdings, S.A. will post 15.18 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, May 29th. Copa's dividend payout ratio is currently 39.88%.

About Copa

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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