Copa Holdings, S.A. (NYSE:CPA) is Wishbone Management LP’s 4th Largest Position

Wishbone Management LP grew its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 20.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 420,000 shares of the transportation company’s stock after purchasing an additional 70,000 shares during the quarter. Copa makes up about 14.1% of Wishbone Management LP’s investment portfolio, making the stock its 4th largest position. Wishbone Management LP owned 1.07% of Copa worth $39,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPA. CWA Asset Management Group LLC purchased a new position in shares of Copa in the third quarter worth $611,000. Silvercrest Asset Management Group LLC bought a new stake in Copa in the 1st quarter worth $1,005,000. Price T Rowe Associates Inc. MD increased its position in shares of Copa by 219.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after acquiring an additional 34,027 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Copa by 15.5% during the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock valued at $3,542,000 after acquiring an additional 5,054 shares during the last quarter. Finally, Fourth Sail Capital LP boosted its holdings in shares of Copa by 45.0% during the third quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock worth $14,731,000 after purchasing an additional 48,692 shares during the period. Institutional investors own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Evercore ISI dropped their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Copa currently has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa Stock Up 0.4 %

CPA stock opened at $93.30 on Thursday. Copa Holdings, S.A. has a twelve month low of $80.01 and a twelve month high of $114.00. The firm has a market cap of $3.68 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.48. The business has a 50 day moving average of $97.13 and a 200 day moving average of $94.81. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is 42.59%.

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.