Copa Holdings, S.A. (NYSE:CPA) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its holdings in Copa Holdings, S.A. (NYSE:CPA) by 19.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 169,976 shares of the transportation company’s stock after selling 41,162 shares during the period. Artisan Partners Limited Partnership’s holdings in Copa were worth $14,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Copa in the 3rd quarter worth about $9,764,000. TT International Asset Management LTD purchased a new stake in shares of Copa in the third quarter worth approximately $4,723,000. Assenagon Asset Management S.A. acquired a new stake in shares of Copa during the fourth quarter worth approximately $1,438,000. Two Sigma Advisers LP grew its position in Copa by 250.1% during the third quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company’s stock valued at $12,059,000 after purchasing an additional 91,805 shares in the last quarter. Finally, Barclays PLC increased its stake in Copa by 44.2% in the 3rd quarter. Barclays PLC now owns 24,721 shares of the transportation company’s stock valued at $2,319,000 after buying an additional 7,576 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

Analysts Set New Price Targets

CPA has been the subject of a number of research reports. UBS Group lifted their target price on shares of Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Cowen reaffirmed a “buy” rating on shares of Copa in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $153.29.

Copa Stock Performance

CPA opened at $94.25 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.10. The company has a market cap of $3.96 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. The stock has a 50-day moving average of $93.70 and a 200-day moving average of $93.45. Copa Holdings, S.A. has a 52-week low of $80.01 and a 52-week high of $114.00.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. As a group, equities research analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $1.61 dividend. The ex-dividend date was Friday, February 28th. This represents a $6.44 annualized dividend and a yield of 6.83%. Copa’s dividend payout ratio (DPR) is presently 44.23%.

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.