Citigroup Inc. Sells 153,378 Shares of Copa Holdings, S.A. (NYSE:CPA)

Citigroup Inc. cut its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 23.0% in the third quarter, HoldingsChannel reports. The firm owned 514,665 shares of the transportation company’s stock after selling 153,378 shares during the period. Citigroup Inc.’s holdings in Copa were worth $48,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CPA. Carrhae Capital LLP bought a new stake in Copa during the 3rd quarter valued at $52,166,000. Vontobel Holding Ltd. raised its position in Copa by 7,848.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after purchasing an additional 413,322 shares in the last quarter. Sprucegrove Investment Management Ltd. raised its position in Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after purchasing an additional 236,850 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after acquiring an additional 112,143 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Copa by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after acquiring an additional 65,525 shares during the period. 70.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPA. Evercore ISI cut their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. TD Cowen cut their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $148.83.

Copa Stock Up 0.7 %

Shares of CPA stock 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 stock’s fifty day moving average price is $96.99 and its 200 day moving average price is $94.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48.

Copa Dividend Announcement

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

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.