JPMorgan Chase & Co. Sells 431,976 Shares of Copa Holdings, S.A. $CPA

JPMorgan Chase & Co. trimmed its position in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 17.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,008,938 shares of the transportation company's stock after selling 431,976 shares during the quarter. JPMorgan Chase & Co. owned 4.88% of Copa worth $220,923,000 as of its most recent filing with the Securities & Exchange Commission.

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Several other hedge funds and other institutional investors have also made changes to their positions in CPA. Dimensional Fund Advisors LP lifted its holdings in shares of Copa by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after acquiring an additional 99,955 shares during the last quarter. Vontobel Holding Ltd. raised its position in Copa by 16.6% in the 2nd quarter. Vontobel Holding Ltd. now owns 552,249 shares of the transportation company's stock worth $60,731,000 after purchasing an additional 78,687 shares during the period. Millennium Management LLC lifted its stake in Copa by 56.5% in the first quarter. Millennium Management LLC now owns 507,419 shares of the transportation company's stock worth $46,916,000 after purchasing an additional 183,184 shares during the last quarter. Wishbone Management LP boosted its position in shares of Copa by 12.5% during the first quarter. Wishbone Management LP now owns 472,500 shares of the transportation company's stock valued at $43,687,000 after buying an additional 52,500 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Copa by 56.1% during the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company's stock valued at $31,488,000 after buying an additional 122,413 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPA. Raymond James Financial set a $164.00 price target on Copa and gave the stock a "strong-buy" rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Copa in a research report on Wednesday, October 8th. Morgan Stanley reissued an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Copa in a research note on Monday, August 11th. Cowen reaffirmed a "buy" rating on shares of Copa in a research note on Friday, August 8th. Finally, Evercore ISI lifted their price objective on shares of Copa from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $157.67.

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Get Our Latest Stock Report on Copa

Copa Trading Up 1.5%

NYSE CPA opened at $119.75 on Wednesday. Copa Holdings, S.A. has a one year low of $82.54 and a one year high of $130.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. The company's 50-day simple moving average is $122.84 and its two-hundred day simple moving average is $114.80.

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Copa (NYSE:CPA - Get Free Report) last released its quarterly earnings data on Wednesday, November 19th. The transportation company reported $4.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.03 by $0.17. The firm had revenue of $913.15 million for the quarter, compared to the consensus estimate of $917.51 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.50 earnings per share. Equities analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, December 1st. Copa's payout ratio is presently 40.05%.

Copa Company Profile

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.

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