Handelsbanken Fonder AB Acquires 3,000 Shares of Copa Holdings, S.A. (NYSE:CPA)

Handelsbanken Fonder AB lifted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 60.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,000 shares of the transportation company’s stock after purchasing an additional 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Copa were worth $850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Copa by 16.8% in the third quarter. FMR LLC now owns 2,401,935 shares of the transportation company’s stock worth $214,060,000 after purchasing an additional 345,757 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Copa by 7.5% during the 3rd quarter. Baillie Gifford & Co. now owns 3,848,117 shares of the transportation company’s stock worth $342,944,000 after buying an additional 267,373 shares during the period. J.P. Morgan Private Wealth Advisors LLC boosted its stake in Copa by 3,647.0% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 261,319 shares of the transportation company’s stock valued at $23,289,000 after buying an additional 254,345 shares in the last quarter. Truxt Investmentos Ltda. acquired a new position in Copa during the third quarter worth $9,246,000. Finally, Sprucegrove Investment Management Ltd. lifted its holdings in shares of Copa by 2.7% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock valued at $282,948,000 after acquiring an additional 70,300 shares during the period. 70.09% of the stock is owned by institutional investors.

Copa Stock Down 0.4 %

Shares of CPA opened at $98.56 on Tuesday. The business’s 50 day simple moving average is $100.87 and its 200-day simple moving average is $97.01. Copa Holdings, S.A. has a one year low of $78.12 and a one year high of $121.20. The company has a market capitalization of $3.88 billion, a P/E ratio of 7.71, a PEG ratio of 0.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.94 and a quick ratio of 0.86.

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

Copa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 6.53%. The ex-dividend date was Wednesday, February 28th. This is a boost from Copa’s previous quarterly dividend of $0.82. Copa’s dividend payout ratio (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

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

About Copa

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.