SPX Gestao de Recursos Ltda Has $39.76 Million Stake in Copa Holdings, S.A. (NYSE:CPA)

SPX Gestao de Recursos Ltda grew its holdings in Copa Holdings, S.A. (NYSE:CPA) by 16.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 417,764 shares of the transportation company’s stock after purchasing an additional 58,846 shares during the quarter. Copa comprises approximately 5.9% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 2nd largest position. SPX Gestao de Recursos Ltda’s holdings in Copa were worth $39,763,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. TFO Wealth Partners LLC raised its stake in Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after acquiring an additional 343 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Copa in the 4th quarter valued at approximately $47,000. Hexagon Capital Partners LLC grew 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 valued at $81,000 after purchasing an additional 102 shares during the last quarter. Rhumbline Advisers increased its position in Copa by 69,000.0% during the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Copa by 45.8% in the 4th 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.

Wall Street Analyst Weigh In

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

Copa Stock Performance

NYSE:CPA opened at $93.82 on Tuesday. The company has a market capitalization of $3.70 billion, a PE ratio of 6.75, a P/E/G ratio of 0.57 and a beta of 1.48. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $114.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The company has a 50 day simple moving average of $89.46 and a two-hundred day simple moving average of $95.71.

Copa (NYSE:CPA) last announced 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 business had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. Copa’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.92 earnings per share. Research analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current year.

Copa Announces Dividend

The firm 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. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio is 46.33%.

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.