Putnam Investments LLC Boosts Stock Holdings in Copa Holdings, S.A. (NYSE:CPA)

Putnam Investments LLC grew its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,962 shares of the transportation company’s stock after purchasing an additional 1,529 shares during the quarter. Putnam Investments LLC owned approximately 0.45% of Copa worth $16,435,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in shares of Copa during the 1st quarter valued at approximately $29,000. State of Wyoming purchased a new position in shares of Copa during the 4th quarter valued at approximately $32,000. Advisory Services Network LLC increased its holdings in Copa by 1,560.7% in the 1st quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock worth $43,000 after acquiring an additional 437 shares in the last quarter. Captrust Financial Advisors increased its holdings in Copa by 136.8% in the 1st quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock worth $58,000 after acquiring an additional 398 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in Copa by 16.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock worth $92,000 after acquiring an additional 151 shares in the last quarter. 81.94% of the stock is owned by hedge funds and other institutional investors.

Copa Trading Down 0.1 %

Shares of CPA stock opened at $96.30 on Friday. The company’s 50-day moving average price is $106.30 and its 200-day moving average price is $101.08. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.32 and a beta of 1.34. Copa Holdings, S.A. has a twelve month low of $65.01 and a twelve month high of $121.20.

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

Copa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.82 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.28 annualized dividend and a dividend yield of 3.41%. Copa’s payout ratio is 37.83%.

Analysts Set New Price Targets

Several brokerages recently commented on CPA. TD Cowen cut their price target on shares of Copa from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 11th. Raymond James boosted their price target on shares of Copa from $138.00 to $155.00 in a report on Monday, July 3rd. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a report on Friday, September 1st. HSBC dropped their target price on shares of Copa from $143.00 to $138.00 in a report on Tuesday, June 13th. Finally, The Goldman Sachs Group upped their target price on shares of Copa from $137.00 to $140.00 in a report on Monday, July 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $130.50.

Copa 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.