Baillie Gifford & Co. Reduces Position in Copa Holdings, S.A. (NYSE:CPA)

Baillie Gifford & Co. trimmed its stake in Copa Holdings, S.A. (NYSE:CPA) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,577,128 shares of the transportation company’s stock after selling 24,334 shares during the period. Baillie Gifford & Co. owned 0.09% of Copa worth $335,678,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Copa by 3.7% in the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after buying an additional 144,806 shares during the period. Sprucegrove Investment Management Ltd. increased its holdings in Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after acquiring an additional 236,850 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Copa by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after acquiring an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after acquiring an additional 65,525 shares during the period. Finally, Carrhae Capital LLP purchased a new position in Copa during the third quarter valued at approximately $52,166,000. 70.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPA. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Copa has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa Price Performance

Shares of Copa stock opened at $99.36 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $114.00. The stock has a 50 day moving average of $94.66 and a 200 day moving average of $94.87. The firm has a market cap of $3.92 billion, a PE ratio of 6.08, a PEG ratio of 0.61 and a beta of 1.48.

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.