Cullen Capital Management LLC Sells 88,718 Shares of Copa Holdings, S.A. (NYSE:CPA)

Cullen Capital Management LLC lessened its holdings in shares of Copa Holdings, S.A. (NYSE:CPAFree Report) by 52.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,816 shares of the transportation company’s stock after selling 88,718 shares during the quarter. Cullen Capital Management LLC owned 0.21% of Copa worth $8,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPA. Vanguard Personalized Indexing Management LLC increased its stake in Copa by 18.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,602 shares of the transportation company’s stock valued at $321,000 after purchasing an additional 551 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Copa in the 3rd quarter worth $492,000. State of New Jersey Common Pension Fund D grew its stake in shares of Copa by 112.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 15,309 shares of the transportation company’s stock worth $1,364,000 after acquiring an additional 8,119 shares in the last quarter. UBS Group AG grew its stake in shares of Copa by 67.6% in the 3rd quarter. UBS Group AG now owns 36,976 shares of the transportation company’s stock worth $3,295,000 after acquiring an additional 14,920 shares in the last quarter. Finally, Navellier & Associates Inc. grew its stake in shares of Copa by 59.1% in the 3rd quarter. Navellier & Associates Inc. now owns 17,249 shares of the transportation company’s stock worth $1,537,000 after acquiring an additional 6,409 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

Copa Price Performance

NYSE CPA opened at $94.35 on Tuesday. The firm’s 50-day simple moving average is $101.16 and its two-hundred day simple moving average is $100.14. Copa Holdings, S.A. has a 52 week low of $78.12 and a 52 week high of $121.20. The company has a market cap of $3.72 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.22 and a beta of 1.48. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPAGet Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.92. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm had revenue of $893.47 million for the quarter, compared to analysts’ expectations of $866.73 million. During the same period in the prior year, the business posted $3.99 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts predict that Copa Holdings, S.A. will post 16.66 earnings per share for the current year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Friday, May 31st. Copa’s dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 price target on the stock. Raymond James boosted their price target on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a report on Friday, May 17th. StockNews.com raised shares of Copa from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Evercore ISI boosted their price target on shares of Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Finally, TD Cowen boosted their price target on shares of Copa from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Copa presently has a consensus rating of “Buy” and a consensus price target of $154.43.

View Our Latest Stock Report on Copa

Copa Company Profile

(Free Report)

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.

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Institutional Ownership by Quarter for Copa (NYSE:CPA)

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