Raymond James Financial Services Advisors Inc. Purchases 16,238 Shares of Copa Holdings, S.A. (NYSE:CPA)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,124 shares of the transportation company’s stock after acquiring an additional 16,238 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.27% of Copa worth $10,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Capital World Investors grew its stake in shares of Copa by 5.9% during the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock worth $417,134,000 after buying an additional 218,236 shares during the last quarter. Raymond James & Associates grew its stake in shares of Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after purchasing an additional 112,143 shares during the last quarter. Sei Investments Co. grew its stake in shares of Copa by 34.8% in the first quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock worth $36,047,000 after purchasing an additional 89,354 shares during the last quarter. Fourth Sail Capital LP bought a new stake in shares of Copa in the fourth quarter worth $7,654,000. Finally, SPX Gestao de Recursos Ltda grew its stake in shares of Copa by 25.0% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 281,573 shares of the transportation company’s stock worth $29,934,000 after purchasing an additional 56,363 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPA. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Evercore ISI dropped their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Copa in a report on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective on the stock. TD Cowen decreased their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Raymond James boosted their target price on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $148.00.

Copa Price Performance

CPA stock opened at $91.19 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 0.99. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $114.00. The firm’s fifty day moving average is $91.52 and its 200 day moving average is $97.51. The firm has a market cap of $3.59 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.42 and a beta of 1.47.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The business had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.92 EPS. Research analysts predict that Copa Holdings, S.A. will post 16.24 earnings per share for the current year.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend is Friday, August 30th. Copa’s dividend payout ratio (DPR) is presently 46.33%.

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.