Bank of Nova Scotia Buys New Holdings in Copa Holdings, S.A. (NYSE:CPA)

Bank of Nova Scotia bought a new stake in Copa Holdings, S.A. (NYSE:CPA – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,934 shares of the transportation company’s stock, valued at approximately $1,907,000. Bank of Nova Scotia owned about 0.05% of Copa at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Copa by 559.6% in the second quarter. Goldman Sachs Group Inc. now owns 546,018 shares of the transportation company’s stock valued at $34,601,000 after purchasing an additional 463,244 shares during the period. Capital World Investors grew its holdings in shares of Copa by 9.9% during the first quarter. Capital World Investors now owns 3,298,119 shares of the transportation company’s stock valued at $275,855,000 after purchasing an additional 297,595 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in Copa in the 3rd quarter worth approximately $8,563,000. Nuveen Asset Management LLC grew its holdings in Copa by 124.0% in the 3rd quarter. Nuveen Asset Management LLC now owns 178,696 shares of the transportation company’s stock worth $11,975,000 after buying an additional 98,907 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Copa by 22.4% in the 3rd quarter. Renaissance Technologies LLC now owns 487,928 shares of the transportation company’s stock worth $32,696,000 after buying an additional 89,400 shares in the last quarter. Institutional investors and hedge funds own 75.96% of the company’s stock.

Copa Trading Down 1.0 %

Shares of NYSE:CPA opened at $105.37 on Monday. The company has a market cap of $4.15 billion, a P/E ratio of 9.37 and a beta of 1.31. The stock’s 50-day moving average is $91.79 and its 200-day moving average is $88.67. Copa Holdings, S.A. has a 52-week low of $55.25 and a 52-week high of $107.96. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.96 and a current ratio of 1.11.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, May 30th. Copa’s dividend payout ratio is currently 29.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPA. Cowen increased their price objective on Copa from $98.00 to $117.00 in a report on Friday, February 17th. StockNews.com started coverage on Copa in a research note on Thursday. They set a “buy” rating for the company. Raymond James increased their price objective on Copa from $125.00 to $138.00 in a research report on Tuesday, May 16th. Barclays increased their target price on Copa from $120.00 to $150.00 in a report on Friday, May 12th. Finally, HSBC increased their price objective on Copa from $117.00 to $143.00 in a report on Wednesday, May 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $123.67.

About Copa

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Copa Holdings SA engages in the provision of air transportation. It operates through the following geographical segments: North America; South America; Central America; and Caribbean. The firm offers international flights to Costa Rica, Jamaica, Colombia, and other cities. The company was founded on May 6, 1998 and is headquartered in Panama.