Coronation Fund Managers Ltd. Has $288,000 Stock Holdings in Copa Holdings, S.A. (NYSE:CPA)

Coronation Fund Managers Ltd. lifted its holdings in Copa Holdings, S.A. (NYSE:CPA) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,763 shares of the transportation company’s stock after buying an additional 280 shares during the period. Coronation Fund Managers Ltd.’s holdings in Copa were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CPA. TFO Wealth Partners LLC boosted its position 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 worth $37,000 after buying an additional 343 shares during the period. Scarborough Advisors LLC acquired a new stake in Copa during the fourth quarter valued at $47,000. Hexagon Capital Partners LLC boosted its position in Copa by 224.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 674 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 466 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Copa by 1,778.4% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 907 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Copa by 45.8% during 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 Performance

CPA stock traded up $1.19 during trading on Wednesday, reaching $94.34. 423,004 shares of the stock were exchanged, compared to its average volume of 274,543. Copa Holdings, S.A. has a twelve month low of $78.12 and a twelve month high of $121.20. The company has a market capitalization of $3.72 billion, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 0.21 and a beta of 1.47. The stock has a 50 day simple moving average of $98.56 and a 200-day simple moving average of $99.54. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.92. The company had revenue of $893.47 million for the quarter, compared to the consensus estimate of $866.73 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 earnings per share. As a group, sell-side analysts anticipate that Copa Holdings, S.A. will post 16.51 earnings per share for the current year.

Copa Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend was Friday, May 31st. Copa’s payout ratio is 46.33%.

Analyst Ratings Changes

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

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.