Massachusetts Financial Services Co. MA Trims Holdings in Copa Holdings, S.A. (NYSE:CPA)

Massachusetts Financial Services Co. MA cut its holdings in Copa Holdings, S.A. (NYSE:CPA) by 25.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,399 shares of the transportation company’s stock after selling 3,871 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Copa were worth $1,085,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sciencast Management LP increased its position in Copa by 4.0% in the 1st quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 100 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Copa by 15.1% in the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 102 shares during the period. SPC Financial Inc. raised its stake in shares of Copa by 1.1% during the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 130 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Copa by 11.3% during the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after purchasing an additional 280 shares during the last quarter. Finally, Carson Advisory Inc. lifted its holdings in shares of Copa by 9.1% during the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock worth $352,000 after purchasing an additional 308 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Price Performance

CPA stock opened at $91.53 on Monday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 0.55 and a beta of 1.48. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $89.49 and a 200-day moving average of $96.10. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $114.00.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same period in the previous year, the business earned $3.92 earnings per share. Copa’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts expect that Copa Holdings, S.A. will post 14.53 EPS for the current fiscal year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $1.61 per share. The ex-dividend date was Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 7.04%. Copa’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen cut their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Evercore ISI lowered their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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 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.