Ruffer LLP Makes New $6.21 Million Investment in Copa Holdings, S.A. $CPA

Key Points

• The institutional investor Ruffer LLP made a new investment of approximately $6.21 million in Copa Holdings, purchasing 56,488 shares in the 2nd quarter.
• Copa recently announced a quarterly dividend of $1.61, resulting in an annualized yield of 5.4%, with a payout ratio of 41.87%.
• Analysts are optimistic about Copa's stock, with a consensus rating of Buy and an average price target of $154.40, reflecting positive market sentiment.

Ruffer LLP purchased a new position in Copa Holdings, S.A. (NYSE:CPA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,488 shares of the transportation company's stock, valued at approximately $6,212,000. Ruffer LLP owned 0.14% of Copa at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPA. Millennium Management LLC boosted its stake in Copa by 56.5% in the 1st quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock worth $46,916,000 after purchasing an additional 183,184 shares during the period. Goldman Sachs Group Inc. boosted its stake in Copa by 56.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company's stock worth $31,488,000 after purchasing an additional 122,413 shares during the period. Dimensional Fund Advisors LP boosted its stake in Copa by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after purchasing an additional 99,955 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Copa by 26.0% during the 1st quarter. Vontobel Holding Ltd. now owns 473,562 shares of the transportation company's stock worth $43,786,000 after acquiring an additional 97,656 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Copa during the 2nd quarter worth approximately $9,392,000. 70.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CPA shares. Morgan Stanley reaffirmed an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Copa in a report on Monday, August 11th. Citigroup decreased their price objective on Copa from $159.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. Finally, TD Cowen upped their price objective on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $154.40.

Copa Stock Performance

NYSE CPA opened at $119.54 on Thursday. The company has a market cap of $4.92 billion, a P/E ratio of 7.77, a P/E/G ratio of 1.07 and a beta of 1.31. 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 business's 50 day moving average price is $115.08 and its 200-day moving average price is $104.66. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week 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 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 the consensus estimate of $833.12 million. Copa had a return on equity of 26.22% and a net margin of 18.36%.Copa's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 EPS. Sell-side analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Copa's dividend payout ratio is 41.87%.

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.

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