Carolina Wealth Advisors LLC Sells 579 Shares of Copa Holdings, S.A. (NYSE:CPA)

Carolina Wealth Advisors LLC trimmed its position in Copa Holdings, S.A. (NYSE:CPA) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,242 shares of the transportation company’s stock after selling 579 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Copa were worth $586,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Carrhae Capital LLP bought a new position in shares of Copa in the 3rd quarter valued at $52,166,000. Raymond James & Associates boosted its stake in Copa by 20.3% in the third quarter. Raymond James & Associates now owns 354,483 shares of the transportation company’s stock valued at $33,265,000 after buying an additional 59,773 shares in the last quarter. Legend Financial Advisors Inc. grew its position in Copa by 14.9% in the third quarter. Legend Financial Advisors Inc. now owns 7,286 shares of the transportation company’s stock valued at $684,000 after acquiring an additional 943 shares during the last quarter. Marathon Asset Management Ltd raised its stake in Copa by 1.7% during the third quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company’s stock worth $48,297,000 after acquiring an additional 8,524 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Copa in the third quarter worth about $291,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPA has been the subject of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Cowen reduced their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. 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 report on Thursday, August 29th. Finally, StockNews.com upgraded Copa from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Trading Down 1.4 %

Shares of NYSE:CPA traded down $1.39 during trading on Monday, reaching $100.65. The stock had a trading volume of 165,094 shares, compared to its average volume of 278,265. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The firm’s fifty day moving average is $91.86 and its 200 day moving average is $95.10. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 0.59 and a beta of 1.49.

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

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is 46.33%.

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.