Ethic Inc. Sells 7,442 Shares of Copa Holdings, S.A. $CPA

Ethic Inc. cut its stake in Copa Holdings, S.A. (NYSE:CPA) by 12.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 50,273 shares of the transportation company’s stock after selling 7,442 shares during the period. Ethic Inc.’s holdings in Copa were worth $5,431,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. VELA Investment Management LLC boosted its holdings in Copa by 2.0% in the second quarter. VELA Investment Management LLC now owns 35,741 shares of the transportation company’s stock valued at $3,930,000 after acquiring an additional 699 shares during the last quarter. MGO One Seven LLC boosted its holdings in Copa by 16.4% in the second quarter. MGO One Seven LLC now owns 4,132 shares of the transportation company’s stock valued at $454,000 after acquiring an additional 581 shares during the last quarter. SPC Financial Inc. bought a new stake in Copa in the second quarter valued at approximately $200,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Copa by 17.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,391 shares of the transportation company’s stock valued at $1,363,000 after acquiring an additional 1,854 shares during the last quarter. Finally, U S Global Investors Inc. boosted its holdings in Copa by 0.7% in the second quarter. U S Global Investors Inc. now owns 40,269 shares of the transportation company’s stock valued at $4,428,000 after acquiring an additional 268 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPA. Evercore ISI increased their price target on Copa from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Cowen restated a “buy” rating on shares of Copa in a report on Friday, August 8th. Citigroup cut their price target on Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a report on Wednesday, October 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Copa in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Copa has a consensus rating of “Buy” and an average target price of $155.33.

Copa Price Performance

Shares of NYSE:CPA opened at $125.63 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $119.35 and its two-hundred day simple moving average is $108.70. Copa Holdings, S.A. has a 1-year low of $82.54 and a 1-year high of $130.00. The stock has a market cap of $5.17 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.11 and a beta of 1.30.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.36. Copa had a net margin of 18.36% and a return on equity of 26.22%. The company had revenue of $842.60 million for the quarter, compared to the consensus estimate of $833.12 million. During the same period in the previous year, the firm earned $2.88 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.61 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $6.44 annualized dividend and a yield of 5.1%. Copa’s dividend payout ratio (DPR) is 41.87%.

Copa Company Profile

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.