Carson Advisory Inc. Buys Shares of 3,388 Copa Holdings, S.A. (NYSE:CPA)

Carson Advisory Inc. purchased a new position in shares of Copa Holdings, S.A. (NYSE:CPA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,388 shares of the transportation company’s stock, valued at approximately $353,000.

Several other institutional investors have also modified their holdings of the stock. Capital World Investors raised its position in Copa by 5.9% in the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after purchasing an additional 218,236 shares during the period. JPMorgan Chase & Co. lifted its position in Copa by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 2,958,237 shares of the transportation company’s stock valued at $263,638,000 after buying an additional 68,592 shares during the last quarter. Sprucegrove Investment Management Ltd. boosted its stake in Copa by 2.7% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock worth $282,948,000 after buying an additional 70,300 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Copa by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 687,771 shares of the transportation company’s stock valued at $73,119,000 after acquiring an additional 38,326 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in shares of Copa by 6.2% in the 4th quarter. Brandes Investment Partners LP now owns 444,576 shares of the transportation company’s stock worth $47,263,000 after acquiring an additional 25,811 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Stock Up 1.2 %

Shares of NYSE:CPA traded up $1.16 during trading hours on Wednesday, reaching $94.31. The stock had a trading volume of 423,005 shares, compared to its average volume of 274,543. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 0.21 and a beta of 1.47. The firm’s 50 day moving average is $98.50 and its 200-day moving average is $99.50. Copa Holdings, S.A. has a 1 year low of $78.12 and a 1 year high of $121.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 0.99.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.92. Copa had a return on equity of 36.59% and a net margin of 16.42%. The company had revenue of $893.47 million during the quarter, compared to the consensus estimate of $866.73 million. During the same period in the previous year, the business earned $3.99 EPS. Copa’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict that Copa Holdings, S.A. will post 16.51 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $1.61 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $6.44 annualized dividend and a yield of 6.83%. Copa’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

CPA has been the subject of several research reports. TD Cowen cut their target price on Copa from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Morgan Stanley assumed coverage on shares of Copa in a research note on Friday, May 24th. They set an “overweight” rating and a $140.00 price target on the stock. Raymond James raised their price objective on shares of Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research note on Friday, May 17th. Finally, Evercore ISI upped their target price on shares of Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Copa has an average rating of “Buy” and an average target price of $154.67.

Copa Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.