Allspring Global Investments Holdings LLC Sells 29,239 Shares of Copa Holdings, S.A. (NYSE:CPA)

Allspring Global Investments Holdings LLC lessened its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 30.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 65,511 shares of the transportation company’s stock after selling 29,239 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Copa were worth $6,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Copa by 559.6% in the second quarter. Goldman Sachs Group Inc. now owns 546,018 shares of the transportation company’s stock worth $34,601,000 after purchasing an additional 463,244 shares during the period. FMR LLC increased its holdings in Copa by 16.8% in the 3rd quarter. FMR LLC now owns 2,401,935 shares of the transportation company’s stock valued at $214,060,000 after buying an additional 345,757 shares during the period. Millennium Management LLC increased its holdings in Copa by 67.5% in the 4th quarter. Millennium Management LLC now owns 808,205 shares of the transportation company’s stock valued at $67,218,000 after buying an additional 325,800 shares during the period. Capital World Investors raised its position in shares of Copa by 9.9% in the 1st quarter. Capital World Investors now owns 3,298,119 shares of the transportation company’s stock valued at $275,855,000 after buying an additional 297,595 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Copa by 317.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 369,463 shares of the transportation company’s stock worth $30,728,000 after acquiring an additional 280,894 shares during the period. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Stock Performance

Copa stock opened at $97.92 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.86 billion, a PE ratio of 7.66, a P/E/G ratio of 0.34 and a beta of 1.39. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $121.20. The business’s 50-day moving average price is $100.76 and its two-hundred day moving average price is $96.09.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, February 7th. The transportation company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.57. The company had revenue of $916.93 million for the quarter, compared to the consensus estimate of $886.13 million. Copa had a net margin of 14.97% and a return on equity of 37.03%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $4.49 EPS. As a group, analysts expect that Copa Holdings, S.A. will post 16.15 earnings per share for the current fiscal year.

Copa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.61 per share. The ex-dividend date was Wednesday, February 28th. This is an increase from Copa’s previous quarterly dividend of $0.82. This represents a $6.44 annualized dividend and a dividend yield of 6.58%. Copa’s dividend payout ratio is 50.39%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, February 12th.

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.