Range Financial Group LLC Purchases Shares of 12,355 Copa Holdings, S.A. (NYSE:CPA)

Range Financial Group LLC bought a new stake in shares of Copa Holdings, S.A. (NYSE:CPA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,355 shares of the transportation company’s stock, valued at approximately $1,086,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPA. Bell Investment Advisors Inc grew its stake in shares of Copa by 29.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after buying an additional 143 shares in the last quarter. Carson Advisory Inc. raised its position in Copa by 9.1% during the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock valued at $352,000 after purchasing an additional 308 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Copa by 10.3% in the 3rd quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company’s stock valued at $490,000 after purchasing an additional 488 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Copa by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock worth $413,000 after purchasing an additional 569 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Copa by 29.3% during the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after buying an additional 610 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Trading Up 2.0 %

NYSE:CPA traded up $1.80 during midday trading on Tuesday, hitting $90.28. The stock had a trading volume of 169,508 shares, compared to its average volume of 218,402. The stock has a 50-day moving average of $92.93 and a 200 day moving average of $92.51. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.72 and a beta of 1.44. Copa Holdings, S.A. has a one year low of $80.01 and a one year high of $114.00. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The firm had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. During the same quarter last year, the firm posted $4.39 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Copa Holdings, S.A. will post 14.48 EPS for the current year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.61 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.13%. Copa’s dividend payout ratio is presently 42.59%.

Wall Street Analyst Weigh In

Several research firms have commented on CPA. UBS Group lifted their price objective on shares of Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $153.29.

Copa 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.