Citigroup Inc. lowered its position in shares of Copa Holdings, S.A. (NYSE:CPA – Free Report) by 7.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 624,611 shares of the transportation company’s stock after selling 51,098 shares during the quarter. Citigroup Inc. owned about 1.58% of Copa worth $55,665,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Copa during the 4th quarter worth about $32,000. Huntington National Bank boosted its stake in shares of Copa by 54.6% in the second quarter. Huntington National Bank now owns 388 shares of the transportation company’s stock worth $43,000 after buying an additional 137 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Copa by 1,560.7% in the first quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock worth $43,000 after buying an additional 437 shares during the last quarter. Tucker Asset Management LLC boosted its stake in shares of Copa by 126.7% in the second quarter. Tucker Asset Management LLC now owns 442 shares of the transportation company’s stock worth $49,000 after buying an additional 247 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Copa by 136.8% in the first quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock worth $58,000 after buying an additional 398 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
Copa Price Performance
Shares of Copa stock opened at $99.11 on Monday. The business has a 50 day simple moving average of $99.61 and a two-hundred day simple moving average of $95.76. Copa Holdings, S.A. has a 12 month low of $78.12 and a 12 month high of $121.20. The stock has a market capitalization of $3.91 billion, a P/E ratio of 7.76, a PEG ratio of 0.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.94 and a quick ratio of 0.86.
Copa (NYSE:CPA – Get Free Report) last announced its earnings results on Wednesday, February 7th. The transportation company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.57. Copa had a return on equity of 37.03% and a net margin of 14.97%. The business had revenue of $916.93 million during the quarter, compared to analysts’ expectations of $886.13 million. During the same quarter in the prior year, the firm earned $4.49 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that Copa Holdings, S.A. will post 16.11 EPS for the current fiscal year.
Copa Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be paid a dividend of $1.61 per share. This is a boost from Copa’s previous quarterly dividend of $0.82. The ex-dividend date is Wednesday, February 28th. This represents a $6.44 annualized dividend and a yield of 6.50%. Copa’s dividend payout ratio (DPR) is 25.67%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CPA. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James increased their price target on Copa from $152.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 17th. Finally, TheStreet upgraded Copa from a “c+” rating to a “b” rating in a research report on Monday, December 18th.
Check Out Our Latest Stock Analysis on CPA
About Copa
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.
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