Wells Fargo & Company MN Cuts Stake in Copa Holdings, S.A. (NYSE:CPA)

Wells Fargo & Company MN trimmed its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,282 shares of the transportation company's stock after selling 3,043 shares during the quarter. Wells Fargo & Company MN's holdings in Copa were worth $1,255,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC raised its stake in shares of Copa by 6.5% during the 4th quarter. Foundry Partners LLC now owns 48,527 shares of the transportation company's stock worth $4,265,000 after buying an additional 2,946 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Copa by 16.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,880 shares of the transportation company's stock worth $1,308,000 after acquiring an additional 2,112 shares during the period. Everstar Asset Management LLC raised its position in Copa by 5.3% in the fourth quarter. Everstar Asset Management LLC now owns 5,653 shares of the transportation company's stock worth $497,000 after acquiring an additional 282 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in Copa by 107.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 119,110 shares of the transportation company's stock valued at $10,467,000 after acquiring an additional 61,800 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Copa by 9.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 211,849 shares of the transportation company's stock worth $18,617,000 after purchasing an additional 18,292 shares in the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPA. UBS Group increased their price target on shares of Copa from $160.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Cowen reissued a "buy" rating on shares of Copa in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded Copa from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $153.29.

Copa Price Performance

Shares of Copa stock traded up $0.99 during trading on Thursday, hitting $92.75. 193,736 shares of the company were exchanged, compared to its average volume of 303,714. The firm has a 50 day moving average price of $91.24 and a 200 day moving average price of $92.79. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.87 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.60. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The transportation company reported $3.99 EPS for the quarter, topping analysts' consensus estimates of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. On average, equities analysts expect that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $1.61 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $6.44 annualized dividend and a yield of 6.94%. Copa's dividend payout ratio (DPR) is presently 44.23%.

About Copa

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.