Assenagon Asset Management S.A. Makes New Investment in Copa Holdings, S.A. (NYSE:CPA)

Assenagon Asset Management S.A. acquired a new position in Copa Holdings, S.A. (NYSE:CPA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,368 shares of the transportation company’s stock, valued at approximately $1,438,000.

A number of other large investors also recently modified their holdings of the business. Coronation Fund Managers Ltd. boosted its position in shares of Copa by 60.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock valued at $422,000 after acquiring an additional 1,667 shares in the last quarter. Rhumbline Advisers increased its position in Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after acquiring an additional 1,380 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Copa by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after purchasing an additional 65,525 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Copa by 39.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,340 shares of the transportation company’s stock worth $508,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Copa during the 2nd quarter valued at about $895,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on CPA shares. UBS Group increased their target price on Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. StockNews.com raised shares of Copa from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa currently has a consensus rating of “Buy” and a consensus target price of $153.29.

Copa Price Performance

Shares of NYSE CPA opened at $92.52 on Friday. Copa Holdings, S.A. has a 1-year low of $80.01 and a 1-year high of $114.00. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.89 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The business’s 50 day moving average is $90.93 and its 200-day moving average is $92.25.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. Copa’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.39 earnings per share. Equities research analysts predict that Copa Holdings, S.A. will post 14.44 earnings per share for the current year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.96%. The ex-dividend date was Monday, December 2nd. Copa’s payout ratio is 42.59%.

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.