Ruffer LLP Reduces Stock Position in Copa Holdings, S.A. $CPA

Ruffer LLP reduced its stake in Copa Holdings, S.A. (NYSE:CPA) by 35.0% in the third quarter, Holdings Channel.com reports. The fund owned 36,729 shares of the transportation company’s stock after selling 19,759 shares during the period. Ruffer LLP’s holdings in Copa were worth $4,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPA. Goldman Sachs Group Inc. lifted its holdings in Copa by 56.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock worth $31,488,000 after purchasing an additional 122,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Copa in the second quarter worth about $12,875,000. BNP Paribas Financial Markets boosted its position in shares of Copa by 185,488.3% in the second quarter. BNP Paribas Financial Markets now owns 111,353 shares of the transportation company’s stock valued at $12,245,000 after acquiring an additional 111,293 shares during the period. Cullen Capital Management LLC grew its stake in Copa by 111.1% during the second quarter. Cullen Capital Management LLC now owns 184,228 shares of the transportation company’s stock valued at $20,260,000 after acquiring an additional 96,968 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Copa by 585.6% during the 2nd quarter. Invesco Ltd. now owns 94,361 shares of the transportation company’s stock worth $10,377,000 after acquiring an additional 80,598 shares during the period. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Performance

Shares of CPA stock opened at $135.92 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $123.93 and its 200-day moving average price is $120.54. The stock has a market cap of $5.60 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 1.55 and a beta of 0.92. Copa Holdings, S.A. has a 12 month low of $82.54 and a 12 month high of $138.00.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 19th. The transportation company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.17. Copa had a return on equity of 26.39% and a net margin of 18.83%.The firm had revenue of $913.15 million for the quarter, compared to analysts’ expectations of $917.51 million. During the same period in the previous year, the firm posted $3.50 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $1.61 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.44 annualized dividend and a dividend yield of 4.7%. Copa’s dividend payout ratio (DPR) is 40.05%.

Analysts Set New Price Targets

Several research analysts have commented on CPA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Copa in a report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on Copa from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Wall Street Zen lowered Copa from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 4th. Raymond James Financial set a $164.00 price objective on shares of Copa and gave the stock a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Itau BBA Securities assumed coverage on shares of Copa in a report on Sunday, November 30th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $156.00.

Copa Company Profile

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.