ExodusPoint Capital Management LP Sells 4,990 Shares of Copa Holdings, S.A. (NYSE:CPA)

ExodusPoint Capital Management LP lowered its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,082 shares of the transportation company’s stock after selling 4,990 shares during the period. ExodusPoint Capital Management LP’s holdings in Copa were worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Capital World Investors increased its stake 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 worth $275,855,000 after purchasing an additional 297,595 shares during the period. Millennium Management LLC increased its stake in Copa by 67.5% during the 4th quarter. Millennium Management LLC now owns 808,205 shares of the transportation company’s stock worth $67,218,000 after acquiring an additional 325,800 shares during the period. Dimensional Fund Advisors LP increased its stake in Copa by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 625,226 shares of the transportation company’s stock worth $51,999,000 after acquiring an additional 27,009 shares during the period. Goldman Sachs Group Inc. increased its stake in Copa by 559.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 546,018 shares of the transportation company’s stock worth $34,601,000 after acquiring an additional 463,244 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Copa by 1.7% during the 4th quarter. Renaissance Technologies LLC now owns 496,228 shares of the transportation company’s stock worth $41,271,000 after acquiring an additional 8,300 shares during the period. Institutional investors own 81.94% of the company’s stock.

Copa Trading Up 0.3 %

NYSE CPA opened at $102.02 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 0.71. Copa Holdings, S.A. has a twelve month low of $65.01 and a twelve month high of $121.20. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.32 and a beta of 1.30. The business’s fifty day moving average is $108.19 and its 200 day moving average is $100.67.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, August 9th. The transportation company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.67. Copa had a return on equity of 40.02% and a net margin of 10.17%. The firm had revenue of $809.19 million for the quarter, compared to the consensus estimate of $798.96 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts expect that Copa Holdings, S.A. will post 14.52 EPS for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.28 annualized dividend and a yield of 3.22%. Copa’s payout ratio is 37.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on CPA shares. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James raised their price objective on Copa from $138.00 to $155.00 in a research note on Monday, July 3rd. The Goldman Sachs Group raised their target price on Copa from $137.00 to $140.00 in a report on Monday, July 10th. HSBC reduced their target price on Copa from $143.00 to $138.00 in a report on Tuesday, June 13th. Finally, Barclays raised their target price on Copa from $120.00 to $150.00 in a report on Friday, May 12th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa presently has an average rating of “Buy” and a consensus target price of $130.50.

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.