Copa Holdings, S.A. (NYSE:CPA) Shares Bought by Deltec Asset Management LLC

Deltec Asset Management LLC grew its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,071 shares of the transportation company’s stock after acquiring an additional 32,526 shares during the period. Copa comprises about 2.4% of Deltec Asset Management LLC’s holdings, making the stock its 11th biggest position. Deltec Asset Management LLC owned about 0.29% of Copa worth $12,090,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CPA. Capital World Investors increased its holdings in Copa by 5.9% during the 4th quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after acquiring an additional 218,236 shares in the last quarter. Fourth Sail Capital LP purchased a new position in shares of Copa during the 4th quarter worth approximately $7,654,000. Sprucegrove Investment Management Ltd. raised its position in shares of Copa by 2.7% during the 4th quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock worth $282,948,000 after purchasing an additional 70,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Copa by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,958,237 shares of the transportation company’s stock valued at $263,638,000 after buying an additional 68,592 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Copa during the 4th quarter valued at $6,967,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Trading Up 0.2 %

Shares of NYSE CPA traded up $0.18 on Friday, reaching $95.18. 385,061 shares of the company traded hands, compared to its average volume of 238,567. The stock has a market capitalization of $3.75 billion, a PE ratio of 6.85, a P/E/G ratio of 0.21 and a beta of 1.48. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $121.20. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $99.42 and a 200 day moving average of $100.09.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, topping the consensus estimate of $3.27 by $0.92. The firm had revenue of $893.47 million during the quarter, compared to analyst estimates of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. Copa’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.99 earnings per share. On average, equities research analysts forecast that Copa Holdings, S.A. will post 16.51 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend was Friday, May 31st. Copa’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

CPA has been the subject of a number of analyst reports. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. TD Cowen cut their target price on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Evercore ISI raised their price target on shares of Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Morgan Stanley began coverage on shares of Copa in a research report on Friday, May 24th. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, Raymond James upped their price objective on shares of Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Copa has an average rating of “Buy” and a consensus price target of $154.67.

Copa 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.