Raymond James & Associates Has $33.27 Million Position in Copa Holdings, S.A. (NYSE:CPA)

Raymond James & Associates boosted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 20.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,483 shares of the transportation company’s stock after buying an additional 59,773 shares during the period. Raymond James & Associates owned about 0.90% of Copa worth $33,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors boosted its stake in Copa by 3.7% during the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after buying an additional 144,806 shares in the last quarter. Sprucegrove Investment Management Ltd. lifted its holdings in shares of Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after acquiring an additional 236,850 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Copa by 1.9% during the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after acquiring an additional 16,100 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Copa by 8.6% during the second 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. Finally, Marathon Asset Management Ltd lifted its holdings in shares of Copa by 1.7% during the third quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company’s stock valued at $48,297,000 after acquiring an additional 8,524 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Performance

Copa stock opened at $100.72 on Thursday. The stock has a 50-day simple moving average of $92.33 and a 200 day simple moving average of $95.01. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $114.00. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 0.59 and a beta of 1.49.

Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The firm had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $3.92 earnings per share. On average, research analysts anticipate that Copa Holdings, S.A. will post 14.56 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $1.61 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a yield of 6.39%. Copa’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

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

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.