Quad Cities Investment Group LLC Makes New Investment in Copa Holdings, S.A. $CPA

Key Points

• Quad Cities Investment Group LLC acquired a new stake in Copa Holdings, S.A. valued at approximately $797,000, purchasing 7,248 shares in the second quarter.
• Several brokerage firms have issued buy ratings for Copa, with Citigroup and TD Cowen adjusting their price targets to $150.00 and $147.00 respectively, while the average target price is $154.40.
• Copa Holdings recently declared a quarterly dividend of $1.61 per share, representing a 5.4% yield based on an annualized basis.

Quad Cities Investment Group LLC acquired a new stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,248 shares of the transportation company's stock, valued at approximately $797,000.

Several other large investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in Copa by 56.5% in the 1st quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock valued at $46,916,000 after purchasing an additional 183,184 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Copa by 56.1% in the 1st 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 last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Copa by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock valued at $109,501,000 after purchasing an additional 99,955 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Copa by 26.0% in the 1st quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock valued at $43,786,000 after purchasing an additional 97,656 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Copa in the 2nd quarter valued at $9,392,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CPA shares. Citigroup decreased their price target on Copa from $159.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Copa in a research note on Friday, August 8th. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Cowen reiterated a "buy" rating on shares of Copa in a report on Friday, August 8th. Finally, TD Cowen boosted their price objective on Copa from $144.00 to $147.00 and gave the company a "buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $154.40.

Copa Stock Performance

Shares of NYSE CPA traded up $2.82 during trading hours on Tuesday, reaching $122.78. The stock had a trading volume of 235,033 shares, compared to its average volume of 316,284. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.05 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $122.53. The firm has a 50-day moving average of $114.61 and a 200-day moving average of $104.43.

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

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $1.61 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 5.2%. Copa's dividend payout ratio is 41.87%.

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.