Citigroup Inc. Trims Stake in Copa Holdings, S.A. (NYSE:CPA)

Citigroup Inc. decreased its stake in shares of Copa Holdings, S.A. (NYSE:CPAFree Report) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 624,611 shares of the transportation company’s stock after selling 51,098 shares during the quarter. Citigroup Inc.’s holdings in Copa were worth $55,665,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CPA. Capital World Investors raised its stake in Copa by 9.9% during the first quarter. Capital World Investors now owns 3,298,119 shares of the transportation company’s stock worth $275,855,000 after acquiring an additional 297,595 shares during the period. BlackRock Inc. raised its stake in Copa by 9.4% during the first quarter. BlackRock Inc. now owns 2,393,256 shares of the transportation company’s stock worth $221,017,000 after acquiring an additional 205,746 shares during the period. Millennium Management LLC raised its stake in Copa by 67.5% during the fourth quarter. Millennium Management LLC now owns 808,205 shares of the transportation company’s stock worth $67,218,000 after acquiring an additional 325,800 shares during the period. Renaissance Technologies LLC raised its stake in Copa by 38.7% during the second quarter. Renaissance Technologies LLC now owns 744,128 shares of the transportation company’s stock worth $82,286,000 after acquiring an additional 207,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Copa by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 686,291 shares of the transportation company’s stock worth $75,888,000 after acquiring an additional 35,322 shares during the period. Institutional investors own 81.94% of the company’s stock.

Copa Price Performance

Shares of NYSE:CPA opened at $99.11 on Monday. The firm’s 50 day moving average is $99.61 and its two-hundred day moving average is $95.76. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $121.20. The firm has a market capitalization of $3.91 billion, a P/E ratio of 7.76, a PEG ratio of 0.36 and a beta of 1.38. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPAGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The transportation company reported $4.47 EPS for the quarter, beating the consensus estimate of $3.90 by $0.57. Copa had a net margin of 14.97% and a return on equity of 37.03%. The company had revenue of $916.93 million for the quarter, compared to analyst estimates of $886.13 million. During the same quarter last year, the business earned $4.49 earnings per share. Copa’s revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that Copa Holdings, S.A. will post 16.11 earnings per share for the current year.

Copa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Copa’s previous quarterly dividend of $0.82. Copa’s dividend payout ratio (DPR) is currently 25.67%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Copa from a “c+” rating to a “b” rating in a research note on Monday, December 18th. Raymond James raised their price target on shares of Copa from $152.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, November 17th. Finally, StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday.

View Our Latest Analysis on CPA

Copa Company Profile

(Free Report)

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.

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Institutional Ownership by Quarter for Copa (NYSE:CPA)

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