JPMorgan Chase & Co. Sells 143,975 Shares of Copa Holdings, S.A. (NYSE:CPA)

JPMorgan Chase & Co. decreased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 5.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,617,309 shares of the transportation company’s stock after selling 143,975 shares during the quarter. JPMorgan Chase & Co. owned 0.07% of Copa worth $245,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Carrhae Capital LLP bought a new position in Copa in the 3rd quarter valued at $52,166,000. Vontobel Holding Ltd. grew its holdings in shares of Copa by 7,848.9% in the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock worth $39,280,000 after purchasing an additional 413,322 shares during the last quarter. Sprucegrove Investment Management Ltd. increased its stake in Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after buying an additional 236,850 shares during the period. Point72 Asset Management L.P. bought a new stake in Copa during the 3rd quarter valued at about $14,094,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Copa in the 3rd quarter valued at about $9,764,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $148.83.

Copa Trading Down 0.3 %

NYSE CPA opened at $87.42 on Tuesday. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. The company’s 50-day simple moving average is $94.49 and its two-hundred day simple moving average is $92.87.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $854.71 million during the quarter, compared to the consensus estimate of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. Copa’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.39 earnings per share. Equities analysts forecast that Copa Holdings, S.A. will post 14.48 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date was Monday, December 2nd. Copa’s payout ratio is currently 42.59%.

About Copa

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.