SG Americas Securities LLC Decreases Position in Copa Holdings, S.A. (NYSE:CPA)

SG Americas Securities LLC reduced its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 96.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,431 shares of the transportation company’s stock after selling 37,930 shares during the quarter. SG Americas Securities LLC’s holdings in Copa were worth $134,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Sciencast Management LP grew its position in Copa by 4.0% during 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 during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 102 shares during the period. SPC Financial Inc. grew its holdings in shares of Copa by 1.1% in the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 130 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in shares of Copa by 11.3% in the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after buying an additional 280 shares during the period. Finally, Carson Advisory Inc. raised its holdings in Copa by 9.1% during the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock valued at $352,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Stock Performance

Copa stock opened at $100.36 on Friday. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $114.00. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 0.59 and a beta of 1.49. The stock’s 50 day simple moving average is $92.99 and its two-hundred day simple moving average is $95.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 earnings per share. As a group, analysts expect that Copa Holdings, S.A. will post 14.56 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $1.61 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 annualized dividend and a dividend yield of 6.42%. Copa’s payout ratio is 46.33%.

Wall Street Analyst Weigh In

CPA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research report on Wednesday. Evercore ISI cut their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen decreased their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.