Copa Holdings, S.A. (NYSE:CPA – Get Free Report) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Friday, May 29th will be given a dividend of 1.71 per share by the transportation company on Monday, June 15th. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, May 29th.
Copa has raised its dividend by an average of 0.5%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Copa has a dividend payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Copa to earn $19.06 per share next year, which means the company should continue to be able to cover its $6.84 annual dividend with an expected future payout ratio of 35.9%.
Copa Stock Up 13.0%
NYSE CPA traded up $14.97 during trading hours on Thursday, hitting $129.89. 606,099 shares of the company were exchanged, compared to its average volume of 439,946. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.65. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.00 and a beta of 0.94. The company has a 50 day moving average of $117.66 and a two-hundred day moving average of $125.32. Copa has a 52-week low of $99.32 and a 52-week high of $156.41.
Hedge Funds Weigh In On Copa
Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Copa by 1,361,326.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 258,671 shares of the transportation company’s stock worth $31,198,000 after acquiring an additional 258,652 shares during the period. INCA Investments LLC purchased a new position in Copa during the first quarter worth about $26,950,000. Balyasny Asset Management L.P. lifted its position in Copa by 428.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 258,251 shares of the transportation company’s stock valued at $31,148,000 after purchasing an additional 209,381 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Copa in the fourth quarter valued at about $18,813,000. Finally, Clark Capital Management Group Inc. boosted its holdings in Copa by 35.2% in the 3rd quarter. Clark Capital Management Group Inc. now owns 550,805 shares of the transportation company’s stock valued at $65,447,000 after purchasing an additional 143,497 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.
About Copa
Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.
The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.
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