Vontobel Holding Ltd. Buys 413,322 Shares of Copa Holdings, S.A. (NYSE:CPA)

Vontobel Holding Ltd. grew its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 7,848.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,588 shares of the transportation company’s stock after buying an additional 413,322 shares during the period. Vontobel Holding Ltd.’s holdings in Copa were worth $39,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sciencast Management LP increased its position in shares of Copa by 4.0% in the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after purchasing an additional 100 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Copa by 15.1% in the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after purchasing an additional 102 shares during the last quarter. SPC Financial Inc. increased its position in shares of Copa by 1.1% in the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 130 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in shares of Copa by 11.3% in the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after purchasing an additional 280 shares during the last quarter. Finally, Carson Advisory Inc. increased its position in shares of Copa by 9.1% in the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock worth $352,000 after purchasing an additional 308 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPA has been the topic of several research analyst reports. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded shares of Copa from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut 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. Finally, Evercore ISI cut their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $148.83.

Copa Price Performance

CPA traded up $2.59 during midday trading on Wednesday, hitting $100.14. The stock had a trading volume of 158,919 shares, compared to its average volume of 275,997. The company has a market cap of $3.95 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. The business has a fifty day moving average of $90.91 and a 200 day moving average of $95.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. Copa Holdings, S.A. has a 1 year low of $78.12 and a 1 year high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. The firm had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.92 earnings per share. As a group, equities analysts forecast that Copa Holdings, S.A. will post 14.56 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio (DPR) is presently 46.33%.

About Copa

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.