Park Avenue Securities LLC Makes New Investment in Copa Holdings, S.A. $CPA

Key Points

• Park Avenue Securities LLC acquired 10,532 shares of Copa Holdings, S.A. during Q2, valued at approximately $1,158,000, highlighting growing institutional interest in the company.
• Copa's quarterly earnings beat analyst expectations, reporting $3.61 EPS against a consensus estimate of $3.25, contributing to a year-over-year revenue increase of 2.8%.
• The company recently declared a quarterly dividend of $1.61, representing a 5.5% annual dividend yield and a payout ratio of 41.87%.

Park Avenue Securities LLC acquired a new position in Copa Holdings, S.A. (NYSE:CPA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,532 shares of the transportation company's stock, valued at approximately $1,158,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPA. Millennium Management LLC grew its position in Copa by 56.5% during the first quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock valued at $46,916,000 after buying an additional 183,184 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Copa by 56.1% in the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company's stock worth $31,488,000 after buying an additional 122,413 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Copa by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after buying an additional 99,955 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Copa by 26.0% in the first quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock worth $43,786,000 after buying an additional 97,656 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Copa during the second quarter worth about $9,392,000. Institutional investors and hedge funds own 70.09% of the company's stock.

Copa Stock Performance

Shares of CPA opened at $117.60 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market capitalization of $4.84 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.02 and a beta of 1.31. The company's fifty day moving average is $115.43 and its two-hundred day moving average is $104.99. Copa Holdings, S.A. has a 1 year low of $82.54 and a 1 year high of $123.00.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.36. The company had revenue of $842.60 million for the quarter, compared to analysts' expectations of $833.12 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. Copa's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 EPS. On average, sell-side analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $1.61 dividend. The ex-dividend date was Friday, August 29th. This represents a $6.44 annualized dividend and a dividend yield of 5.5%. Copa's dividend payout ratio is currently 41.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Copa from $144.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Copa in a research report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Copa in a research report on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating and set a $145.00 price target (up from $125.00) on shares of Copa in a research report on Monday, August 11th. Finally, Citigroup dropped their price target on shares of Copa from $159.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $154.40.

About Copa

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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