Seven Eight Capital LP Acquires 5,041 Shares of Copa Holdings, S.A. (NYSE:CPA)

Seven Eight Capital LP lifted its holdings in Copa Holdings, S.A. (NYSE:CPA) by 41.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,279 shares of the transportation company’s stock after purchasing an additional 5,041 shares during the quarter. Seven Eight Capital LP’s holdings in Copa were worth $1,645,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CPA. Capital World Investors lifted its position in Copa by 5.9% during the 4th quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock worth $417,134,000 after buying an additional 218,236 shares in the last quarter. Raymond James & Associates raised its holdings in Copa by 61.4% during the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after acquiring an additional 112,143 shares in the last quarter. Sei Investments Co. boosted its position in Copa by 34.8% during the first quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock valued at $36,047,000 after purchasing an additional 89,354 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after purchasing an additional 65,525 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda increased its position in shares of Copa by 25.0% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 281,573 shares of the transportation company’s stock worth $29,934,000 after purchasing an additional 56,363 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Up 0.2 %

Copa stock opened at $90.31 on Thursday. The company’s 50-day moving average price is $89.77 and its two-hundred day moving average price is $96.25. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The stock has a market cap of $3.56 billion, a P/E ratio of 6.50, a P/E/G ratio of 0.55 and a beta of 1.48. Copa Holdings, S.A. has a twelve month low of $78.12 and a twelve month high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 30.81% and a net margin of 19.31%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 EPS. As a group, analysts expect that Copa Holdings, S.A. will post 14.53 EPS for the current year.

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s dividend payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI cut 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. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley assumed coverage on Copa in a research report on Friday, May 24th. They set an “overweight” rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $148.83.

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.