JPMorgan Chase & Co. Sells 143,975 Shares of Copa Holdings, S.A. (NYSE:CPA)

JPMorgan Chase & Co. cut its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,617,309 shares of the transportation company’s stock after selling 143,975 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.64% of Copa worth $245,608,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in Copa during the 3rd quarter valued at approximately $9,764,000. CWA Asset Management Group LLC bought a new stake in shares of Copa during the third quarter valued at approximately $611,000. Aptus Capital Advisors LLC lifted its holdings in shares of Copa by 15.5% in the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock worth $3,542,000 after buying an additional 5,054 shares in the last quarter. Fourth Sail Capital LP boosted its position in shares of Copa by 45.0% during the third quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock worth $14,731,000 after acquiring an additional 48,692 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Copa by 7,848.9% during the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after acquiring an additional 413,322 shares in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Copa currently has a consensus rating of “Buy” and an average target price of $148.83.

Copa Stock Performance

Copa stock opened at $87.42 on Tuesday. The company’s 50-day moving average price is $94.49 and its 200-day moving average price is $92.87. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.45 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $854.71 million for the quarter, compared to the consensus estimate of $864.90 million. Copa had a return on equity of 28.46% and a net margin of 18.20%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.39 earnings per share. On average, equities research analysts forecast that Copa Holdings, S.A. will post 14.48 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed 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 7.37%. The ex-dividend date was Monday, December 2nd. Copa’s payout ratio is 42.59%.

Copa Company 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.