Rhumbline Advisers Increases Stake in Copa Holdings, S.A. (NYSE:CPA)

Rhumbline Advisers raised its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 69,000.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the transportation company’s stock after acquiring an additional 1,380 shares during the quarter. Rhumbline Advisers’ holdings in Copa were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital World Investors raised its position 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 valued at $417,134,000 after buying an additional 218,236 shares during the last quarter. Raymond James & Associates increased its holdings in Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after acquiring an additional 112,143 shares during the last quarter. Sei Investments Co. lifted its stake in Copa by 34.8% in the 1st 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 in the last quarter. Invenomic Capital Management LP boosted its holdings in shares of Copa by 90.5% during the 4th quarter. Invenomic Capital Management LP now owns 116,800 shares of the transportation company’s stock valued at $12,417,000 after purchasing an additional 55,492 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Copa during the first quarter valued at about $4,878,000. Institutional investors own 70.09% of the company’s stock.

Copa Trading Up 1.7 %

Shares of CPA stock opened at $95.43 on Monday. The company has a 50-day moving average of $89.46 and a two-hundred day moving average of $95.78. The firm has a market cap of $3.76 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. Copa Holdings, S.A. has a 1-year low of $78.12 and a 1-year high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.11. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business had revenue of $819.40 million for the quarter, compared to analysts’ expectations of $838.13 million. During the same quarter in the prior year, the company earned $3.92 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Copa Holdings, S.A. will post 14.53 EPS for the current year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.75%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

CPA has been the topic of several analyst reports. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. TD Cowen decreased their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI dropped their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Copa currently has a consensus rating of “Buy” and an average price target of $148.83.

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.