Copa Holdings, S.A. (NYSE:CPA) is Wishbone Management LP’s 4th Largest Position

Wishbone Management LP grew its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 20.0% during the third quarter, HoldingsChannel.com reports. The fund owned 420,000 shares of the transportation company’s stock after buying an additional 70,000 shares during the quarter. Copa accounts for about 14.1% of Wishbone Management LP’s portfolio, making the stock its 4th biggest position. Wishbone Management LP’s holdings in Copa were worth $39,413,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc lifted its holdings in Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 143 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Copa by 14.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock worth $85,000 after purchasing an additional 116 shares during the period. Rhumbline Advisers grew its position in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the period. Mackenzie Financial Corp raised its position in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after acquiring an additional 610 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in shares of Copa during the 2nd quarter valued at $268,000. 70.09% of the stock is currently owned by institutional investors.

Copa Price Performance

CPA stock opened at $93.30 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.09. The company’s fifty day moving average price is $97.13 and its 200-day moving average price is $94.81. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a market capitalization of $3.68 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.48.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is currently 42.59%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a report on Monday. Evercore ISI lowered their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced 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 lowered their target price on shares of 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 given a strong buy rating to the stock. According to data from MarketBeat, Copa currently has an average rating of “Buy” and a consensus target price of $148.83.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.