Artisan Partners Limited Partnership Boosts Stake in Copa Holdings, S.A. $CPA

Artisan Partners Limited Partnership raised its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,533 shares of the transportation company’s stock after buying an additional 44,513 shares during the quarter. Artisan Partners Limited Partnership owned about 0.52% of Copa worth $23,592,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of Copa by 76.4% during the 1st quarter. Cetera Investment Advisers now owns 8,248 shares of the transportation company’s stock worth $763,000 after acquiring an additional 3,573 shares during the last quarter. Mackenzie Financial Corp raised its stake in Copa by 10.1% in the first quarter. Mackenzie Financial Corp now owns 13,100 shares of the transportation company’s stock valued at $1,211,000 after buying an additional 1,200 shares during the last quarter. GSA Capital Partners LLP increased its stake in Copa by 17.4% during the 1st quarter. GSA Capital Partners LLP now owns 7,584 shares of the transportation company’s stock valued at $701,000 after purchasing an additional 1,125 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Copa in the 1st quarter worth $36,000. Finally, Letko Brosseau & Associates Inc. lifted its holdings in shares of Copa by 0.4% during the first quarter. Letko Brosseau & Associates Inc. now owns 185,478 shares of the transportation company’s stock worth $17,149,000 after purchasing an additional 728 shares during the period. Institutional investors own 70.09% of the company’s stock.

Copa Trading Up 2.0%

Shares of CPA stock opened at $115.34 on Friday. The firm has a 50-day moving average price of $122.73 and a 200 day moving average price of $114.27. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.08 and a beta of 1.30. Copa Holdings, S.A. has a twelve month low of $82.54 and a twelve month high of $130.00.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 19th. The transportation company reported $4.20 EPS for the quarter, topping the consensus estimate of $4.03 by $0.17. The firm had revenue of $913.15 million during the quarter, compared to analyst estimates of $917.51 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. Copa’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.50 earnings per share. Research analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, December 1st. Copa’s dividend payout ratio (DPR) is currently 40.05%.

Analysts Set New Price Targets

CPA has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Evercore ISI boosted their target price on Copa from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Morgan Stanley restated an “overweight” rating and issued a $145.00 target price (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. Cowen reaffirmed a “buy” rating on shares of Copa in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Copa in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $157.67.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.