Copa Holdings, S.A. (NYSE:CPA) Shares Sold by Channing Global Advisors LLC

Channing Global Advisors LLC lowered its position in Copa Holdings, S.A. (NYSE:CPA) by 53.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,410 shares of the transportation company’s stock after selling 6,168 shares during the period. Channing Global Advisors LLC’s holdings in Copa were worth $508,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sprucegrove Investment Management Ltd. lifted its stake in Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after acquiring an additional 236,850 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after acquiring an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after purchasing an additional 65,525 shares during the period. Carrhae Capital LLP purchased a new position in shares of Copa in the 3rd quarter valued at about $52,166,000. Finally, Marathon Asset Management Ltd lifted its stake in Copa by 1.7% in 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 during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. TD Cowen lowered their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Evercore ISI dropped their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $148.83.

Copa Stock Performance

Shares of CPA opened at $93.35 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 52-week low of $80.01 and a 52-week high of $114.00. The company has a 50-day simple moving average of $97.19 and a 200-day simple moving average of $94.80. The company has a market capitalization of $3.68 billion, a PE ratio of 6.17, a P/E/G ratio of 0.73 and a beta of 1.48.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.90%. 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.