Public Employees Retirement System of Ohio Sells 8,198 Shares of Copa Holdings, S.A. $CPA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Copa Holdings by 7.7%, selling 8,198 shares in the second quarter, leaving it with 97,823 shares valued at approximately $10.76 million.
• Copa reported $3.61 earnings per share for the last quarter, exceeding analysts' forecasts of $3.25, and saw a 2.8% increase in year-over-year revenue.
• The company declared a quarterly dividend of $1.61 per share, amounting to an annualized yield of 5.5%, with a dividend payout ratio of 41.87%.

Public Employees Retirement System of Ohio cut its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,823 shares of the transportation company's stock after selling 8,198 shares during the period. Public Employees Retirement System of Ohio owned about 0.24% of Copa worth $10,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPA. Fifth Third Bancorp bought a new stake in Copa during the second quarter worth $25,000. Montag A & Associates Inc. acquired a new position in shares of Copa during the first quarter worth $30,000. Bayforest Capital Ltd acquired a new position in shares of Copa during the first quarter worth $36,000. US Bancorp DE increased its holdings in shares of Copa by 378.1% during the first quarter. US Bancorp DE now owns 502 shares of the transportation company's stock worth $46,000 after buying an additional 397 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Copa during the first quarter worth $50,000. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Performance

NYSE CPA opened at $117.60 on Friday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.02 and a beta of 1.31. Copa Holdings, S.A. has a twelve month low of $82.54 and a twelve month high of $123.00. The stock has a fifty day simple moving average of $115.43 and a 200 day simple moving average of $104.99. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, August 29th. Copa's dividend payout ratio (DPR) is presently 41.87%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPA. Cowen reiterated a "buy" rating on shares of Copa in a report on Friday, August 8th. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Morgan Stanley reiterated an "overweight" rating and set a $145.00 price target (up from $125.00) on shares of Copa in a report on Monday, August 11th. TD Cowen upped their price target on shares of Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Citigroup lowered their price target on shares of Copa from $159.00 to $150.00 and set a "buy" rating for the company in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $154.40.

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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