Victory Capital Management Inc. trimmed its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 48.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,696 shares of the transportation company's stock after selling 130,785 shares during the quarter. Victory Capital Management Inc. owned approximately 0.34% of Copa worth $13,101,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CPA. Virtu Financial LLC acquired a new position in shares of Copa in the 4th quarter worth $289,000. LPL Financial LLC boosted its position in Copa by 4.3% during the fourth quarter. LPL Financial LLC now owns 3,204 shares of the transportation company's stock valued at $282,000 after purchasing an additional 132 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Copa by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,628,609 shares of the transportation company's stock worth $231,002,000 after buying an additional 11,300 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Copa by 9.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 211,849 shares of the transportation company's stock worth $18,617,000 after buying an additional 18,292 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in shares of Copa by 107.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 119,110 shares of the transportation company's stock worth $10,467,000 after buying an additional 61,800 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.
Copa Stock Performance
Shares of Copa stock traded down $0.13 during trading on Friday, reaching $110.18. The company's stock had a trading volume of 225,102 shares, compared to its average volume of 257,095. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.88 and a current ratio of 0.99. The business's fifty day moving average price is $107.61 and its 200-day moving average price is $97.82. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.15.
Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.51. The business had revenue of $899.18 million for the quarter, compared to analyst estimates of $888.82 million. Copa had a return on equity of 25.91% and a net margin of 17.66%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.19 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $1.61 per share. The ex-dividend date was Friday, May 30th. This represents a $6.44 annualized dividend and a yield of 5.85%. Copa's dividend payout ratio is 43.96%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Raymond James Financial boosted their price target on Copa from $145.00 to $147.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Cowen reaffirmed a "buy" rating on shares of Copa in a research report on Wednesday, May 14th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Copa currently has a consensus rating of "Buy" and a consensus target price of $152.00.
Check Out Our Latest Stock Report on CPA
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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