Kempen Capital Management N.V. lowered its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 17.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,403 shares of the transportation company’s stock after selling 7,070 shares during the quarter. Kempen Capital Management N.V. owned approximately 0.08% of Copa worth $3,162,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CPA. Investors Research Corp purchased a new stake in shares of Copa in the second quarter valued at approximately $29,000. Quantamental Technologies LLC purchased a new position in Copa in the second quarter worth approximately $165,000. Pinnacle Associates Ltd. purchased a new position in Copa in the second quarter worth approximately $203,000. Baltimore Capital Management Inc. purchased a new position in Copa in the first quarter worth approximately $222,000. Finally, HighTower Advisors LLC purchased a new position in shares of Copa during the second quarter worth $232,000. 68.88% of the stock is owned by institutional investors and hedge funds.
Copa stock traded up $0.22 during midday trading on Wednesday, reaching $95.81. The company’s stock had a trading volume of 1,525 shares, compared to its average volume of 301,134. Copa Holdings, S.A. has a fifty-two week low of $67.38 and a fifty-two week high of $113.62. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.05 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.78 and a beta of 1.36. The business has a 50-day simple moving average of $101.97 and a 200-day simple moving average of $92.89.
Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.15. Copa had a return on equity of 12.35% and a net margin of 1.59%. The company had revenue of $645.10 million for the quarter, compared to analysts’ expectations of $625.92 million. During the same period last year, the firm earned $1.17 earnings per share. Copa’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Copa Holdings, S.A. will post 8.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Thursday, August 29th. Copa’s dividend payout ratio is presently 39.88%.
Several research firms have recently commented on CPA. JPMorgan Chase & Co. raised their price target on Copa from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 3rd. Barclays began coverage on Copa in a research note on Monday, July 29th. They issued an “overweight” rating and a $122.00 price objective on the stock. Buckingham Research increased their price objective on Copa from $119.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. ValuEngine cut Copa from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, UBS Group cut Copa from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $108.50.
Copa Company Profile
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.
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