Copa Holdings, S.A. (NYSE:CPA) Shares Sold by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda decreased its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 385,029 shares of the transportation company’s stock after selling 32,735 shares during the period. Copa accounts for 4.8% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 5th largest position. SPX Gestao de Recursos Ltda owned about 0.98% of Copa worth $36,131,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sprucegrove Investment Management Ltd. grew its stake in Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after buying an additional 236,850 shares during the period. Renaissance Technologies LLC grew its holdings in Copa by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after purchasing an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after purchasing an additional 65,525 shares in the last quarter. Carrhae Capital LLP acquired a new stake in Copa during the 3rd quarter valued at $52,166,000. Finally, Marathon Asset Management Ltd grew its holdings in Copa by 1.7% during the 3rd quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company’s stock valued at $48,297,000 after purchasing an additional 8,524 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CPA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $148.83.

Copa Stock Performance

Shares of Copa stock traded down $1.30 during trading hours on Friday, reaching $86.83. The company’s stock had a trading volume of 78,821 shares, compared to its average volume of 290,291. The stock has a market cap of $3.42 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. The company’s 50 day simple moving average is $96.60 and its 200 day simple moving average is $93.71. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $854.71 million for the quarter, compared to the consensus estimate of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. Copa’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $4.39 EPS. As a group, analysts expect that Copa Holdings, S.A. will post 14.48 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.44 annualized dividend and a yield of 7.42%. Copa’s payout ratio is 42.59%.

Copa Company Profile

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.