Sprucegrove Investment Management Ltd. Has $282.95 Million Stake in Copa Holdings, S.A. (NYSE:CPA)

Sprucegrove Investment Management Ltd. boosted its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,661,539 shares of the transportation company's stock after purchasing an additional 70,300 shares during the period. Copa comprises 12.3% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 4th largest position. Sprucegrove Investment Management Ltd. owned approximately 6.75% of Copa worth $282,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Copa by 559.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 546,018 shares of the transportation company's stock valued at $34,601,000 after buying an additional 463,244 shares during the last quarter. FMR LLC lifted its position in shares of Copa by 16.8% during the 3rd quarter. FMR LLC now owns 2,401,935 shares of the transportation company's stock valued at $214,060,000 after buying an additional 345,757 shares during the last quarter. Millennium Management LLC lifted its position in shares of Copa by 67.5% during the 4th quarter. Millennium Management LLC now owns 808,205 shares of the transportation company's stock valued at $67,218,000 after buying an additional 325,800 shares during the last quarter. Capital World Investors lifted its position in shares of Copa by 9.9% during the 1st quarter. Capital World Investors now owns 3,298,119 shares of the transportation company's stock valued at $275,855,000 after buying an additional 297,595 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Copa by 317.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 369,463 shares of the transportation company's stock valued at $30,728,000 after buying an additional 280,894 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company's stock.

Wall Street Analysts Forecast Growth

CPA has been the topic of a number of recent research reports. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a research report on Monday, February 12th. TheStreet upgraded Copa from a "c+" rating to a "b" rating in a research note on Monday, December 18th.

Copa Stock Performance

Shares of NYSE:CPA traded down $6.55 during midday trading on Friday, reaching $96.40. 526,417 shares of the company traded hands, compared to its average volume of 193,397. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.58. Copa Holdings, S.A. has a 12 month low of $78.12 and a 12 month high of $121.20. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.37 and a beta of 1.39. The firm's fifty day moving average price is $100.94 and its two-hundred day moving average price is $95.92.

Copa (NYSE:CPA - Get Free Report) last announced its earnings results on Wednesday, February 7th. The transportation company reported $4.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.90 by $0.57. The business had revenue of $916.93 million for the quarter, compared to analyst estimates of $886.13 million. Copa had a return on equity of 37.03% and a net margin of 14.97%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.49 EPS. On average, equities analysts expect that Copa Holdings, S.A. will post 16.15 earnings per share for the current year.

Copa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $1.61 dividend. This is a positive change from Copa's previous quarterly dividend of $0.82. This represents a $6.44 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date was Wednesday, February 28th. Copa's dividend payout ratio is currently 50.39%.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.