Paragon Capital Management Ltd decreased its holdings in Copa Holdings, S.A. (NYSE:CPA) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,903 shares of the transportation company’s stock after selling 418 shares during the period. Paragon Capital Management Ltd’s holdings in Copa were worth $314,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CPA. Millennium Management LLC boosted its position in Copa by 453.2% in the 3rd quarter. Millennium Management LLC now owns 254,845 shares of the transportation company’s stock valued at $25,165,000 after buying an additional 208,781 shares during the period. Clark Capital Management Group Inc. boosted its position in Copa by 38.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 286,023 shares of the transportation company’s stock valued at $30,913,000 after buying an additional 79,318 shares during the period. Squarepoint Ops LLC purchased a new position in Copa in the 3rd quarter valued at approximately $5,924,000. Artemis Investment Management LLP boosted its position in Copa by 155.4% in the 4th quarter. Artemis Investment Management LLP now owns 78,400 shares of the transportation company’s stock valued at $8,468,000 after buying an additional 47,700 shares during the period. Finally, Paradice Investment Management LLC boosted its position in Copa by 570.1% in the 3rd quarter. Paradice Investment Management LLC now owns 40,353 shares of the transportation company’s stock valued at $3,985,000 after buying an additional 34,331 shares during the period. Institutional investors own 70.09% of the company’s stock.
Shares of Copa stock traded up $0.73 during trading on Friday, hitting $110.01. 452,496 shares of the stock were exchanged, compared to its average volume of 319,432. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 52.64, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. The firm’s 50-day moving average price is $103.81 and its 200 day moving average price is $102.99. Copa Holdings, S.A. has a 12-month low of $77.57 and a 12-month high of $116.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.95.
Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, February 12th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.19. The business had revenue of $681.90 million during the quarter, compared to analysts’ expectations of $675.10 million. Copa had a net margin of 3.29% and a return on equity of 15.24%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. As a group, research analysts forecast that Copa Holdings, S.A. will post 7.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be paid a $0.80 dividend. The ex-dividend date is Thursday, February 27th. This is a positive change from Copa’s previous quarterly dividend of $0.65. This represents a $3.20 dividend on an annualized basis and a yield of 2.91%. Copa’s payout ratio is currently 39.88%.
Several brokerages have commented on CPA. Cowen raised their price target on shares of Copa from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday. Evercore ISI reissued a “buy” rating on shares of Copa in a research report on Sunday, November 17th. Deutsche Bank raised their price target on shares of Copa from $103.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, November 18th. They noted that the move was a valuation call. ValuEngine raised shares of Copa from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Bank of America raised their price target on shares of Copa from $117.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Copa presently has a consensus rating of “Buy” and a consensus price target of $117.00.
Copa Company Profile
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.
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