Cullen Capital Management LLC Reduces Stake in Copa Holdings, S.A. (NYSE:CPA)

Cullen Capital Management LLC lowered its stake in Copa Holdings, S.A. (NYSE:CPA) by 68.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,693 shares of the transportation company’s stock after selling 111,985 shares during the quarter. Cullen Capital Management LLC’s holdings in Copa were worth $4,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Copa in the fourth quarter valued at approximately $46,433,000. Cape Ann Asset Management Ltd purchased a new stake in Copa in the 4th quarter worth approximately $20,195,000. Point72 Asset Management L.P. bought a new position in Copa in the 3rd quarter valued at $14,094,000. Carrhae Capital LLP grew its position in shares of Copa by 26.3% during the 4th quarter. Carrhae Capital LLP now owns 701,867 shares of the transportation company’s stock valued at $61,680,000 after purchasing an additional 145,967 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Copa in the third quarter worth $9,764,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Price Performance

CPA opened at $86.95 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.66 billion, a P/E ratio of 5.97, a PEG ratio of 0.87 and a beta of 1.11. The stock has a 50-day moving average price of $93.52 and a 200-day moving average price of $93.53. Copa Holdings, S.A. has a 12-month low of $80.01 and a 12-month high of $114.00.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, February 12th. The transportation company reported $3.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $0.15. Copa had a return on equity of 26.70% and a net margin of 17.67%. Equities analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Friday, February 28th. Copa’s dividend payout ratio is currently 44.23%.

Wall Street Analysts Forecast Growth

CPA has been the subject of several research analyst reports. Cowen reissued a “buy” rating on shares of Copa in a research note on Tuesday, February 18th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, UBS Group upped their price objective on shares of Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $153.29.

About Copa

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.