Point72 Asset Management L.P. Trims Position in Copa Holdings, S.A. (NYSE:CPA)

Point72 Asset Management L.P. cut its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 31.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,701 shares of the transportation company's stock after selling 46,496 shares during the quarter. Point72 Asset Management L.P. owned about 0.25% of Copa worth $9,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Copa during the fourth quarter valued at approximately $1,438,000. Barclays PLC boosted its position in shares of Copa by 44.2% during the third quarter. Barclays PLC now owns 24,721 shares of the transportation company's stock valued at $2,319,000 after purchasing an additional 7,576 shares in the last quarter. Bridgewater Associates LP bought a new stake in shares of Copa during the fourth quarter valued at approximately $961,000. Invesco Ltd. boosted its position in shares of Copa by 37.1% during the fourth quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock valued at $1,079,000 after purchasing an additional 3,320 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Copa by 12.9% in the fourth quarter. Marshall Wace LLP now owns 178,127 shares of the transportation company's stock worth $15,654,000 after acquiring an additional 20,324 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Cowen reissued a "buy" rating on shares of Copa in a report on Wednesday, May 14th. Wall Street Zen downgraded Copa from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Copa currently has an average rating of "Moderate Buy" and a consensus target price of $150.83.

Copa Stock Up 1.7%

Copa stock traded up $1.73 during mid-day trading on Friday, hitting $106.51. The company had a trading volume of 741,547 shares, compared to its average volume of 309,216. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average price is $93.49 and its two-hundred day moving average price is $92.86. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $107.71. The company has a market capitalization of $4.39 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.26.

Copa (NYSE:CPA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.77 by $0.51. The firm had revenue of $899.18 million for the quarter, compared to the consensus estimate of $888.82 million. Copa had a return on equity of 26.70% and a net margin of 17.67%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $4.19 earnings per share. As a group, sell-side analysts anticipate that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Friday, May 30th. Copa's payout ratio is currently 43.96%.

Copa 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.