Copa Holdings, S.A. $CPA Shares Sold by Shellback Capital LP

Key Points

• Shellback Capital LP sold 159,964 shares of Copa Holdings, decreasing its holdings by 69.5%, leaving it with 70,036 shares valued at approximately $6.48 million.
• Despite this sell-off, several institutional investors like Silvercrest Asset Management and Retirement Planning Co of New England have increased their stakes in Copa, indicating ongoing investor interest.
• Copa Holdings declared a quarterly dividend of $1.61 per share, contributing to an annualized yield of 5.5% as it maintains a healthy dividend payout ratio of 41.87%.

Shellback Capital LP lessened its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,036 shares of the transportation company's stock after selling 159,964 shares during the quarter. Shellback Capital LP owned approximately 0.17% of Copa worth $6,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new stake in Copa during the first quarter valued at $30,000. Bayforest Capital Ltd acquired a new stake in Copa during the first quarter valued at $36,000. US Bancorp DE grew its position in shares of Copa by 378.1% in the first quarter. US Bancorp DE now owns 502 shares of the transportation company's stock valued at $46,000 after purchasing an additional 397 shares during the period. Quarry LP acquired a new stake in shares of Copa in the first quarter valued at about $50,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Copa by 8,175.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the transportation company's stock valued at $61,000 after purchasing an additional 654 shares during the period. Institutional investors and hedge funds own 70.09% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CPA shares. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. 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 issued a $145.00 target price (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. Finally, TD Cowen lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $154.40.

Copa Price Performance

CPA traded up $2.19 on Thursday, reaching $117.12. 195,046 shares of the company's stock were exchanged, compared to its average volume of 320,307. The stock has a market cap of $4.82 billion, a PE ratio of 7.62, a P/E/G ratio of 1.00 and a beta of 1.31. Copa Holdings, S.A. has a twelve month low of $82.54 and a twelve month high of $121.63. The stock's fifty day moving average price is $113.46 and its 200-day moving average price is $102.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93.

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

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.61 per share. The ex-dividend date is Friday, August 29th. This represents a $6.44 dividend on an annualized basis and a yield of 5.5%. Copa's payout ratio is presently 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.