Cullen Capital Management LLC Buys 96,968 Shares of Copa Holdings, S.A. $CPA

Cullen Capital Management LLC raised its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 111.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,228 shares of the transportation company’s stock after buying an additional 96,968 shares during the quarter. Cullen Capital Management LLC owned about 0.45% of Copa worth $20,260,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp bought a new position in shares of Copa during the second quarter valued at $25,000. Bayforest Capital Ltd purchased a new stake in Copa during the 1st quarter valued at about $36,000. US Bancorp DE increased its stake in Copa by 378.1% during the 1st quarter. US Bancorp DE now owns 502 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 397 shares in the last quarter. Quarry LP purchased a new position in Copa in the first quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Copa by 8,175.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the transportation company’s stock worth $61,000 after buying an additional 654 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CPA. Citigroup cut their price target on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a research note on Wednesday, October 8th. Raymond James Financial set a $164.00 target price on Copa and gave the stock a “strong-buy” rating in a report on Monday, November 3rd. Evercore ISI upped their price target on Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Copa from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $159.43.

Copa Trading Up 1.4%

NYSE:CPA opened at $120.11 on Monday. The company has a market cap of $4.94 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The company has a current ratio of 1.06, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $122.83 and a two-hundred day simple moving average of $116.18. Copa Holdings, S.A. has a 12 month low of $82.54 and a 12 month high of $130.00.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, November 19th. The transportation company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.17. The firm had revenue of $913.15 million for the quarter, compared to analysts’ expectations of $917.51 million. Copa had a return on equity of 26.39% and a net margin of 18.83%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 EPS. Research analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.44 dividend on an annualized basis and a yield of 5.4%. Copa’s dividend payout ratio is currently 40.05%.

About Copa

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.