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

Sprucegrove Investment Management Ltd. lessened its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,709,995 shares of the transportation company’s stock after selling 270,740 shares during the period. Copa makes up about 15.6% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 2nd biggest position. Sprucegrove Investment Management Ltd. owned approximately 0.07% of Copa worth $299,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Privium Fund Management B.V. purchased a new stake in Copa during the 2nd quarter worth approximately $2,159,000. Victory Capital Management Inc. boosted its holdings in shares of Copa by 455.0% in the 2nd quarter. Victory Capital Management Inc. now owns 277,712 shares of the transportation company’s stock valued at $30,709,000 after acquiring an additional 227,672 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Copa in the 1st quarter valued at $1,851,000. Aaron Wealth Advisors LLC boosted its holdings in shares of Copa by 43.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,761 shares of the transportation company’s stock valued at $416,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Channing Global Advisors LLC purchased a new stake in shares of Copa in the 2nd quarter valued at $605,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Copa Stock Performance

Shares of CPA traded down $1.01 during trading hours on Tuesday, hitting $93.59. The stock had a trading volume of 100,913 shares, compared to its average volume of 483,410. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.68 and a current ratio of 0.74. The firm has a 50-day moving average price of $87.30 and a 200 day moving average price of $100.09. Copa Holdings, S.A. has a fifty-two week low of $78.12 and a fifty-two week high of $121.20. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.33 and a beta of 1.37.

Copa (NYSE:CPA) last posted its quarterly earnings data on Thursday, November 16th. The transportation company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. The company had revenue of $867.71 million during the quarter, compared to analysts’ expectations of $870.57 million. Copa had a net margin of 12.07% and a return on equity of 42.85%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.91 earnings per share. As a group, research analysts anticipate that Copa Holdings, S.A. will post 14.52 EPS for the current year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Wednesday, November 29th. Copa’s dividend payout ratio is presently 31.36%.

Wall Street Analyst Weigh In

CPA has been the topic of several recent research reports. Raymond James upped their price objective on shares of Copa from $152.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday. TD Cowen dropped their price objective on shares of Copa from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 11th. TheStreet downgraded shares of Copa from a “b-” rating to a “c+” rating in a report on Wednesday, November 1st. StockNews.com assumed coverage on shares of Copa in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Copa from $160.00 to $170.00 in a research note on Monday, September 18th. One equities research 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. According to data from MarketBeat.com, Copa currently has an average rating of “Buy” and a consensus target price of $135.89.

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.