Copa Holdings, S.A. (NYSE:CPA) Stock Position Raised by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. boosted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,086,189 shares of the transportation company’s stock after purchasing an additional 236,850 shares during the quarter. Copa makes up approximately 15.2% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 3rd largest holding. Sprucegrove Investment Management Ltd. owned about 0.08% of Copa worth $293,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sciencast Management LP grew its position in shares of Copa by 4.0% in the 1st quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after acquiring an additional 100 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Copa by 15.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after acquiring an additional 102 shares in the last quarter. SPC Financial Inc. grew its position in shares of Copa by 1.1% in the 1st quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after acquiring an additional 130 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in shares of Copa by 11.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after acquiring an additional 280 shares in the last quarter. Finally, Carson Advisory Inc. grew its position in shares of Copa by 9.1% in the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock worth $352,000 after acquiring an additional 308 shares in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Stock Up 1.7 %

Shares of Copa stock opened at $91.80 on Friday. Copa Holdings, S.A. has a 12-month low of $78.12 and a 12-month high of $114.00. 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 firm has a market capitalization of $3.62 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. The stock’s fifty day moving average is $89.69 and its 200-day moving average is $96.21.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The firm had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same quarter in the previous year, the company posted $3.92 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current year.

Copa Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 annualized dividend and a dividend yield of 7.02%. Copa’s dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CPA shares. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. decreased their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Morgan Stanley initiated coverage on Copa in a research report on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective for the company. Evercore ISI reduced their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price 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.