Deltec Asset Management LLC Purchases 32,526 Shares of Copa Holdings, S.A. (NYSE:CPA)

Deltec Asset Management LLC lifted its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 38.9% in the first quarter, HoldingsChannel reports. The fund owned 116,071 shares of the transportation company’s stock after buying an additional 32,526 shares during the period. Copa accounts for approximately 2.4% of Deltec Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Deltec Asset Management LLC’s holdings in Copa were worth $12,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors increased its position in Copa by 5.9% in the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock worth $417,134,000 after purchasing an additional 218,236 shares during the period. Fourth Sail Capital LP bought a new position in shares of Copa in the 4th quarter valued at about $7,654,000. Sprucegrove Investment Management Ltd. grew its position in shares of Copa by 2.7% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock worth $282,948,000 after buying an additional 70,300 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Copa by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,958,237 shares of the transportation company’s stock worth $263,638,000 after buying an additional 68,592 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Copa in the fourth quarter valued at approximately $6,967,000. Institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CPA shares. Morgan Stanley started coverage on shares of Copa in a report on Friday, May 24th. They set an “overweight” rating and a $140.00 target price for the company. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Evercore ISI boosted their price objective on shares of Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Raymond James increased their target price on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a report on Friday, May 17th. Finally, TD Cowen decreased their price target on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $154.67.

Copa Stock Up 0.2 %

Shares of NYSE:CPA traded up $0.18 during midday trading on Friday, reaching $95.18. The company had a trading volume of 385,061 shares, compared to its average volume of 238,567. The business’s 50 day moving average price is $99.42 and its 200 day moving average price is $100.09. Copa Holdings, S.A. has a 1-year low of $78.12 and a 1-year high of $121.20. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.75 billion, a PE ratio of 6.85, a P/E/G ratio of 0.21 and a beta of 1.48.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.92. The firm had revenue of $893.47 million during the quarter, compared to analysts’ expectations of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.99 earnings per share. Research analysts forecast that Copa Holdings, S.A. will post 16.51 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Friday, May 31st. Copa’s dividend payout ratio is 46.33%.

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.