California Public Employees Retirement System lifted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 75,178 shares of the transportation company’s stock after purchasing an additional 1,978 shares during the period. California Public Employees Retirement System owned 0.18% of Copa worth $9,362,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CPA. Meeder Asset Management Inc. bought a new position in Copa in the third quarter valued at about $498,000. Federated Investors Inc. PA boosted its holdings in Copa by 6.1% in the second quarter. Federated Investors Inc. PA now owns 49,811 shares of the transportation company’s stock valued at $5,828,000 after acquiring an additional 2,847 shares during the last quarter. Jennison Associates LLC bought a new position in Copa in the third quarter valued at about $1,708,000. Capital Growth Management LP bought a new position in Copa during the second quarter worth about $72,435,000. Finally, 361 Capital LLC boosted its holdings in Copa by 7.1% during the second quarter. 361 Capital LLC now owns 33,986 shares of the transportation company’s stock worth $3,976,000 after buying an additional 2,259 shares during the last quarter. Institutional investors own 61.40% of the company’s stock.
A number of equities analysts have issued reports on CPA shares. Cowen raised their target price on Copa from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Copa from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded Copa from a “neutral” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Tuesday, November 21st. Bank of America reduced their target price on Copa from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Finally, Santander upgraded Copa from an “underperform” rating to a “hold” rating in a report on Monday, December 4th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $135.86.
Shares of Copa Holdings, S.A. (CPA) opened at $141.01 on Friday. The company has a market capitalization of $6,157.84, a PE ratio of 16.38, a PEG ratio of 2.11 and a beta of 1.94. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. Copa Holdings, S.A. has a 1 year low of $92.98 and a 1 year high of $141.34.
Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, November 8th. The transportation company reported $2.38 EPS for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.06. The company had revenue of $657.17 million for the quarter, compared to analyst estimates of $644.36 million. Copa had a return on equity of 16.81% and a net margin of 14.88%. Copa’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. research analysts forecast that Copa Holdings, S.A. will post 8.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, November 29th. Copa’s dividend payout ratio is presently 34.84%.
Copa Holdings, SA is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama.
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