Oldfield Partners LLP Boosts Position in Copa Holdings, S.A. (NYSE:CPA)

Oldfield Partners LLP increased its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 6.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,900 shares of the transportation company’s stock after acquiring an additional 900 shares during the quarter. Copa makes up 0.3% of Oldfield Partners LLP’s portfolio, making the stock its 19th biggest holding. Oldfield Partners LLP’s holdings in Copa were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CPA. SG Americas Securities LLC purchased a new stake in Copa in the 1st quarter valued at about $4,878,000. Deltec Asset Management LLC lifted its stake in Copa by 38.9% during the first quarter. Deltec Asset Management LLC now owns 116,071 shares of the transportation company’s stock worth $12,090,000 after purchasing an additional 32,526 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Copa during the first quarter worth $1,005,000. Price T Rowe Associates Inc. MD lifted its stake in Copa by 219.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock worth $5,164,000 after acquiring an additional 34,027 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Copa in the first quarter worth $3,207,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Stock Performance

NYSE CPA opened at $99.80 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $91.86 and its two-hundred day moving average is $95.04. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.59 and a beta of 1.49. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $114.00.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share 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 analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.92 EPS. Research analysts expect that Copa Holdings, S.A. will post 14.56 EPS for the current year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s dividend payout ratio (DPR) is 46.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on CPA shares. StockNews.com raised shares of Copa from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target 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. TD Cowen reduced their price target 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. Evercore ISI dropped their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa 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.