SPX Gestao de Recursos Ltda Acquires 58,846 Shares of Copa Holdings, S.A. (NYSE:CPA)

SPX Gestao de Recursos Ltda raised its holdings in Copa Holdings, S.A. (NYSE:CPA) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,764 shares of the transportation company’s stock after acquiring an additional 58,846 shares during the period. Copa comprises about 5.9% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 2nd largest holding. SPX Gestao de Recursos Ltda owned about 1.06% of Copa worth $39,763,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TFO Wealth Partners LLC raised its holdings in shares of Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after acquiring an additional 343 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Copa during the fourth quarter worth about $47,000. Hexagon Capital Partners LLC boosted its position in shares of Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after buying an additional 102 shares during the period. Rhumbline Advisers grew its holdings in shares of Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after buying an additional 1,380 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Copa by 45.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock valued at $198,000 after buying an additional 584 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Down 1.7 %

Shares of CPA opened at $93.82 on Tuesday. The firm’s 50-day simple moving average is $89.46 and its 200 day simple moving average is $95.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The firm has a market cap of $3.70 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 EPS. On average, analysts forecast that Copa Holdings, S.A. will post 14.53 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 6.86%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s dividend payout ratio (DPR) is 46.33%.

Analyst Ratings Changes

CPA has been the subject of several research reports. StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. lowered 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. Deutsche Bank Aktiengesellschaft lowered 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. Evercore ISI decreased their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen dropped their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $148.83.

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.