Kestra Investment Management LLC Makes New $795,000 Investment in Copa Holdings, S.A. (NYSE:CPA)

Kestra Investment Management LLC purchased a new stake in shares of Copa Holdings, S.A. (NYSE:CPA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,468 shares of the transportation company’s stock, valued at approximately $795,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc lifted its holdings in Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 143 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Copa in the third quarter worth approximately $82,000. Hexagon Capital Partners LLC boosted its holdings in shares of Copa by 14.9% in the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock worth $85,000 after buying an additional 116 shares during the last quarter. Rhumbline Advisers grew its position in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Copa by 29.3% during the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after buying an additional 610 shares during the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Trading Up 0.0 %

Shares of CPA opened at $93.37 on Monday. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $114.00. The company has a 50 day simple moving average of $97.25 and a two-hundred day simple moving average of $94.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.89. The firm has a market cap of $3.68 billion, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 0.73 and a beta of 1.48.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.90%. Copa’s payout ratio is 42.59%.

Wall Street Analysts Forecast Growth

CPA has been the subject of a number of recent research reports. TD Cowen cut their price objective 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 cut their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $148.83.

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.