Brandes Investment Partners LP Decreases Stake in Copa Holdings, S.A. (NYSE:CPA)

Brandes Investment Partners LP decreased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456,726 shares of the transportation company’s stock after selling 1,132 shares during the quarter. Brandes Investment Partners LP owned about 1.16% of Copa worth $43,469,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CPA. TFO Wealth Partners LLC grew its stake in Copa by 34,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 343 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Copa during the 4th quarter worth approximately $47,000. Hexagon Capital Partners LLC boosted its holdings in shares of Copa by 15.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after purchasing an additional 102 shares during the last quarter. Rhumbline Advisers grew its position in shares of Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Copa by 45.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock valued at $198,000 after purchasing an additional 584 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Trading Up 1.7 %

Shares of CPA stock opened at $95.43 on Monday. Copa Holdings, S.A. has a 1-year low of $78.12 and a 1-year high of $114.00. The firm has a market cap of $3.76 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a 50-day moving average of $89.46 and a two-hundred day moving average of $95.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89.

Copa (NYSE:CPA) last posted its quarterly earnings data 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 firm had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $3.92 EPS. On average, analysts predict that Copa Holdings, S.A. will post 14.53 EPS for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid 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 dividend yield of 6.75%. Copa’s payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CPA shares. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI reduced their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One investment 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 company. Based on data from MarketBeat, Copa has an average rating of “Buy” and an average target price of $148.83.

Copa Company 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.