Arrowstreet Capital Limited Partnership bought a new stake in shares of Copa Holdings (NYSE:CPA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,500 shares of the transportation company’s stock, valued at approximately $201,000.
Several other hedge funds also recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in shares of Copa by 23.6% during the third quarter. Nationwide Fund Advisors now owns 215,158 shares of the transportation company’s stock worth $26,794,000 after buying an additional 41,130 shares during the period. Jennison Associates LLC purchased a new position in shares of Copa during the third quarter worth $1,708,000. BNP Paribas Arbitrage SA boosted its position in shares of Copa by 32.6% during the third quarter. BNP Paribas Arbitrage SA now owns 29,384 shares of the transportation company’s stock worth $3,659,000 after buying an additional 7,228 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Copa during the third quarter worth $4,884,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Copa by 44.7% in the third quarter. Bank of New York Mellon Corp now owns 194,756 shares of the transportation company’s stock valued at $24,254,000 after acquiring an additional 60,168 shares in the last quarter. Institutional investors and hedge funds own 64.87% of the company’s stock.
CPA has been the topic of several analyst reports. Zacks Investment Research upgraded Copa from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a research note on Tuesday, January 9th. Bank of America started coverage on Copa in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Cowen restated a “hold” rating and issued a $137.00 price target on shares of Copa in a research note on Tuesday, January 9th. Stifel Nicolaus raised their price objective on Copa from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, Buckingham Research reaffirmed a “buy” rating and set a $165.00 price objective (up previously from $163.00) on shares of Copa in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $146.00.
Shares of NYSE CPA traded down $6.80 during midday trading on Friday, reaching $123.12. 490,415 shares of the company were exchanged, compared to its average volume of 194,562. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 0.41. Copa Holdings has a 1 year low of $107.90 and a 1 year high of $141.34. The firm has a market cap of $5,186.18, a P/E ratio of 14.22, a P/E/G ratio of 0.78 and a beta of 1.74.
Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, February 21st. The transportation company reported $2.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.03. Copa had a return on equity of 18.25% and a net margin of 14.64%. The company had revenue of $675.58 million for the quarter, compared to analyst estimates of $666.96 million. During the same quarter in the previous year, the company earned $2.26 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. analysts anticipate that Copa Holdings will post 10.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, March 2nd. This is a positive change from Copa’s previous quarterly dividend of $0.75. Copa’s payout ratio is currently 40.18%.
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Copa Company Profile
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services in Panama and internationally. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of February, 22, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 Embraer-190s aircraft.
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