Barings LLC cut its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 53.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,080 shares of the transportation company’s stock after selling 6,850 shares during the period. Barings LLC’s holdings in Copa were worth $575,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY purchased a new stake in Copa during the fourth quarter valued at $134,000. Envestnet Asset Management Inc. raised its stake in Copa by 60.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,371 shares of the transportation company’s stock valued at $184,000 after purchasing an additional 519 shares in the last quarter. Wells Fargo & Company MN raised its stake in Copa by 56.1% during the first quarter. Wells Fargo & Company MN now owns 177,926 shares of the transportation company’s stock valued at $22,887,000 after purchasing an additional 63,938 shares in the last quarter. Dorsey Wright & Associates raised its stake in Copa by 36.3% during the first quarter. Dorsey Wright & Associates now owns 76,978 shares of the transportation company’s stock valued at $9,630,000 after purchasing an additional 20,492 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in Copa by 503.2% during the first quarter. Trexquant Investment LP now owns 14,140 shares of the transportation company’s stock valued at $1,819,000 after purchasing an additional 11,796 shares in the last quarter. Institutional investors and hedge funds own 66.64% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Cowen decreased their price target on shares of Copa from $130.00 to $100.00 and set a “market perform” rating on the stock in a research note on Friday, August 10th. Stifel Nicolaus downgraded shares of Copa from a “hold” rating to a “sell” rating and decreased their price target for the company from $100.00 to $70.00 in a research note on Thursday, August 9th. Buckingham Research downgraded shares of Copa from a “buy” rating to a “neutral” rating and decreased their price target for the company from $165.00 to $103.00 in a research note on Wednesday, July 11th. Goldman Sachs Group assumed coverage on shares of Copa in a research note on Monday, July 16th. They set a “buy” rating and a $144.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Copa from a “hold” rating to a “strong sell” rating in a research note on Monday, July 23rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $117.22.
Copa (NYSE:CPA) last announced its earnings results on Wednesday, August 8th. The transportation company reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.10). Copa had a net margin of 14.58% and a return on equity of 18.29%. The firm had revenue of $634.10 million during the quarter, compared to analysts’ expectations of $659.06 million. During the same period in the prior year, the company posted $1.48 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. equities research analysts predict that Copa Holdings, S.A. will post 9.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, August 30th. Copa’s dividend payout ratio is currently 40.18%.
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of April 12, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 EMBRAER-190s aircraft.
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