TD Waterhouse Canada Inc. Sells 8,845 Shares of Copa Holdings, S.A. $CPA

Key Points

• TD Waterhouse Canada cut its Copa Holdings stake by 95.4% in the second quarter, selling 8,845 shares and retaining 423 shares valued at approximately $65,000. Institutional investors collectively own 70.09% of the company.
• Copa reported quarterly EPS of $1.67, below the $1.88 analyst consensus, while revenue rose 25.7% year over year to $1.06 billion. The company maintains solid profitability, with a 22.4% return on equity and a 15.71% net margin.
• Copa declared a quarterly dividend of $1.71, equivalent to a 5.3% annualized yield. Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $172.20 versus the reported share price of $129.10.

TD Waterhouse Canada Inc. trimmed its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 95.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423 shares of the transportation company's stock after selling 8,845 shares during the period. TD Waterhouse Canada Inc.'s holdings in Copa were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC bought a new stake in shares of Copa during the second quarter valued at approximately $4,853,000. Triumph Capital Management grew its stake in Copa by 26.7% in the second quarter. Triumph Capital Management now owns 570 shares of the transportation company's stock worth $89,000 after purchasing an additional 120 shares in the last quarter. Headlands Technologies LLC bought a new position in Copa in the second quarter worth approximately $436,000. Cullen Capital Management LLC purchased a new position in Copa during the 2nd quarter worth $88,871,000. Finally, Globeflex Capital L P purchased a new position in Copa during the 2nd quarter worth $13,579,000. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Performance

Shares of CPA stock opened at $129.10 on Friday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.20 and a beta of 0.99. The company's 50 day moving average is $137.42 and its 200 day moving average is $132.09. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Copa Holdings, S.A. has a 52-week low of $107.44 and a 52-week high of $160.46.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.21). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Copa had a return on equity of 22.40% and a net margin of 15.71%.The business's quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the firm earned $3.61 EPS. On average, sell-side analysts anticipate that Copa Holdings, S.A. will post 15.22 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, August 31st. Copa's payout ratio is presently 44.97%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPA. UBS Group decreased their target price on Copa from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Raymond James Financial dropped their price target on Copa from $195.00 to $185.00 and set a "strong-buy" rating on the stock in a research report on Monday, August 24th. Jefferies Financial Group started coverage on Copa in a research note on Thursday, June 18th. They set a "buy" rating and a $185.00 price target on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Copa in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Copa from $165.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $172.20.

About Copa

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, connecting Panama and other destinations across North, Central and South America and the Caribbean. Copa also offers related cargo transportation services.

Copa Airlines operates its primary hub at Tocumen International Airport in Panama City, which serves as a connecting point for travel throughout the Americas.

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