Public Employees Retirement System of Ohio Makes New Investment in Copa Holdings, S.A. (NYSE:CPA)

Public Employees Retirement System of Ohio acquired a new stake in shares of Copa Holdings, S.A. (NYSE:CPA) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 104,054 shares of the transportation company’s stock, valued at approximately $9,764,000.

A number of other institutional investors have also recently made changes to their positions in CPA. Bell Investment Advisors Inc increased its position in Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after buying an additional 143 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Copa in the third quarter worth $82,000. Rhumbline Advisers lifted its stake in shares of Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after buying an additional 1,380 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Copa by 29.3% during the second 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 last quarter. Finally, Qsemble Capital Management LP purchased a new position in Copa in the 2nd quarter worth $268,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPA. JPMorgan Chase & Co. decreased their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Copa presently has a consensus rating of “Buy” and an average target price of $148.83.

Copa Stock Performance

Shares of NYSE CPA opened at $91.49 on Thursday. Copa Holdings, S.A. has a 1 year low of $80.01 and a 1 year high of $114.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. The company’s fifty day moving average price is $96.73 and its 200 day moving average price is $93.75. The company has a market capitalization of $3.61 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm 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%. Copa’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.39 EPS. On average, research analysts predict that Copa Holdings, S.A. will post 14.48 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is 42.59%.

Copa Company 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.