Thomas J. Herzfeld Advisors Inc. trimmed its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 45.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,250 shares of the transportation company's stock after selling 7,000 shares during the period. Thomas J. Herzfeld Advisors Inc.'s holdings in Copa were worth $763,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Montag A & Associates Inc. bought a new stake in Copa in the first quarter valued at about $30,000. Bayforest Capital Ltd acquired a new position in Copa in the first quarter valued at about $36,000. US Bancorp DE grew its stake in 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 acquiring an additional 397 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in 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 acquiring an additional 654 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in Copa by 2,813.9% in the first quarter. SBI Securities Co. Ltd. now owns 1,049 shares of the transportation company's stock valued at $97,000 after acquiring an additional 1,013 shares during the period. 70.09% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CPA shares. Raymond James Financial reissued a "strong-buy" rating on shares of Copa in a research note on Friday, August 8th. Cowen restated a "buy" rating on shares of Copa in a report on Friday, August 8th. Citigroup cut their price target on Copa from $159.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. TD Cowen boosted their price target on Copa from $144.00 to $147.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $157.83.
Read Our Latest Research Report on CPA
Copa Stock Up 2.4%
Shares of NYSE:CPA traded up $2.76 during midday trading on Thursday, reaching $119.98. The company had a trading volume of 234,299 shares, compared to its average volume of 364,526. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business's 50 day moving average price is $111.73 and its 200 day moving average price is $101.64. The stock has a market cap of $4.94 billion, a PE ratio of 7.80, a P/E/G ratio of 1.02 and a beta of 1.39. Copa Holdings, S.A. has a 1-year low of $82.54 and a 1-year high of $121.63.
Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, topping 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 analysts' expectations of $833.12 million. During the same quarter last year, the company posted $2.88 earnings per share. Copa's quarterly revenue was up 2.8% on a year-over-year basis. Research analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.
Copa Dividend Announcement
The company also recently disclosed 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 of this dividend is Friday, August 29th. This represents a $6.44 annualized dividend and a yield of 5.4%. Copa's dividend payout ratio is currently 41.87%.
About Copa
(
Free Report)
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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