TT International Asset Management LTD Takes Position in Copa Holdings, S.A. (NYSE:CPA)

TT International Asset Management LTD acquired a new stake in Copa Holdings, S.A. (NYSE:CPA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,340 shares of the transportation company’s stock, valued at approximately $4,723,000. Copa makes up 0.6% of TT International Asset Management LTD’s portfolio, making the stock its 28th biggest position. TT International Asset Management LTD owned about 0.13% of Copa at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bell Investment Advisors Inc lifted its position in shares of Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 143 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Copa in the third quarter valued at $82,000. Rhumbline Advisers increased its stake in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares during the last quarter. Mackenzie Financial Corp increased its stake in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 610 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in Copa in the second quarter valued at $268,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. dropped their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Stock Performance

Shares of NYSE:CPA opened at $88.45 on Wednesday. The firm has a market capitalization of $3.49 billion, a PE ratio of 5.85, a P/E/G ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99. The business has a 50-day moving average of $96.78 and a two-hundred day moving average of $93.76. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $114.00.

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

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.44 annualized dividend and a yield of 7.28%. Copa’s dividend payout ratio is presently 42.59%.

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.