Allspring Global Investments Holdings LLC Has $6.13 Million Position in Copa Holdings, S.A. (NYSE:CPA)

Allspring Global Investments Holdings LLC decreased its holdings in Copa Holdings, S.A. (NYSE:CPA) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,440 shares of the transportation company’s stock after selling 461 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Copa were worth $6,133,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors lifted its stake in Copa by 5.9% during the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock worth $417,134,000 after purchasing an additional 218,236 shares during the period. Raymond James & Associates lifted its position in shares of Copa by 61.4% during the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after buying an additional 112,143 shares during the period. Sei Investments Co. boosted its stake in Copa by 34.8% in the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock valued at $36,047,000 after buying an additional 89,354 shares in the last quarter. SPX Gestao de Recursos Ltda grew its position in Copa by 25.0% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 281,573 shares of the transportation company’s stock valued at $29,934,000 after acquiring an additional 56,363 shares during the period. Finally, Invenomic Capital Management LP raised its stake in Copa by 90.5% during the fourth quarter. Invenomic Capital Management LP now owns 116,800 shares of the transportation company’s stock worth $12,417,000 after acquiring an additional 55,492 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

Copa Price Performance

CPA opened at $90.40 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. The company’s 50 day simple moving average is $90.98 and its 200-day simple moving average is $97.14. Copa Holdings, S.A. has a one year low of $78.12 and a one year high of $114.00. The stock has a market capitalization of $3.56 billion, a P/E ratio of 6.50, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47.

Copa (NYSE:CPA) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The company 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 36.59% and a net margin of 16.42%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.92 earnings per share. Sell-side analysts anticipate that Copa Holdings, S.A. will post 16.24 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date of this dividend is Friday, August 30th. Copa’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

CPA has been the topic of several analyst reports. Morgan Stanley began coverage on shares of Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price on the stock. Raymond James upped their price objective on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 17th. Evercore ISI cut their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, TD Cowen cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.