Raymond James Financial Services Advisors Inc. Increases Stock Holdings in Copa Holdings, S.A. (NYSE:CPA)

Raymond James Financial Services Advisors Inc. raised its stake in Copa Holdings, S.A. (NYSE:CPA) by 17.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 107,124 shares of the transportation company’s stock after acquiring an additional 16,238 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Copa were worth $10,196,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brandes Investment Partners LP increased its stake in Copa by 6.2% in the fourth quarter. Brandes Investment Partners LP now owns 444,576 shares of the transportation company’s stock valued at $47,263,000 after purchasing an additional 25,811 shares during the last quarter. SG Americas Securities LLC purchased a new position in Copa in the first quarter valued at approximately $4,878,000. Deltec Asset Management LLC increased its stake in Copa by 38.9% in the first quarter. Deltec Asset Management LLC now owns 116,071 shares of the transportation company’s stock valued at $12,090,000 after purchasing an additional 32,526 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in Copa in the first quarter valued at approximately $1,005,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Copa in the fourth quarter valued at approximately $1,083,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Price Performance

Shares of NYSE CPA opened at $91.19 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. The stock has a fifty day moving average price of $91.52 and a 200 day moving average price of $97.51. Copa Holdings, S.A. has a 1-year low of $78.12 and a 1-year high of $114.00. The company has a market cap of $3.59 billion, a PE ratio of 6.59, a P/E/G ratio of 0.42 and a beta of 1.47.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.11. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. During the same period last year, the company earned $3.92 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Copa Holdings, S.A. will post 16.24 EPS for the current year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 7.06%. The ex-dividend date is Friday, August 30th. Copa’s dividend payout ratio is presently 46.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CPA. Deutsche Bank Aktiengesellschaft decreased their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James increased their price objective on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a report on Friday, May 17th. Morgan Stanley began coverage on Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 price objective for the company. TD Cowen decreased their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Evercore ISI decreased their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $148.00.

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.