Victory Capital Management Inc. Sells 3,580 Shares of Copa Holdings, S.A. (NYSE:CPA)

Victory Capital Management Inc. lessened its holdings in Copa Holdings, S.A. (NYSE:CPA) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 285,718 shares of the transportation company’s stock after selling 3,580 shares during the period. Victory Capital Management Inc.’s holdings in Copa were worth $27,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. TFO Wealth Partners LLC increased its holdings in shares of Copa by 34,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 343 shares during the last quarter. Scarborough Advisors LLC bought a new position in Copa in the 4th quarter valued at about $47,000. Hexagon Capital Partners LLC lifted its position in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after acquiring an additional 102 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after acquiring an additional 1,380 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position 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. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Up 3.4 %

CPA stock opened at $87.89 on Thursday. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $114.00. The business has a 50-day simple moving average of $90.03 and a 200 day simple moving average of $96.52. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.46 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.77 by $0.11. The company 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 business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.92 EPS. Sell-side analysts anticipate that Copa Holdings, S.A. will post 14.53 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.33%. The ex-dividend date is Friday, August 30th. Copa’s payout ratio is presently 46.33%.

Wall Street Analysts Forecast Growth

CPA has been the subject of several research reports. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. JPMorgan Chase & Co. reduced their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Raymond James raised their price target on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 17th. TD Cowen dropped their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. 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’s stock. According to data from MarketBeat.com, Copa has a consensus rating of “Buy” and a consensus price target of $148.83.

About Copa

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.