Cullen Capital Management LLC Acquires 96,968 Shares of Copa Holdings, S.A. $CPA

Cullen Capital Management LLC raised its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 111.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,228 shares of the transportation company’s stock after acquiring an additional 96,968 shares during the quarter. Cullen Capital Management LLC’s holdings in Copa were worth $20,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CPA. HighTower Advisors LLC purchased a new stake in Copa in the 1st quarter worth approximately $423,000. Hsbc Holdings PLC lifted its holdings in Copa by 16.7% during the first quarter. Hsbc Holdings PLC now owns 52,671 shares of the transportation company’s stock valued at $4,841,000 after purchasing an additional 7,520 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Copa by 12.5% in the first quarter. Aptus Capital Advisors LLC now owns 52,242 shares of the transportation company’s stock worth $4,830,000 after purchasing an additional 5,808 shares during the period. Seven Mile Advisory purchased a new stake in shares of Copa in the first quarter worth $223,000. Finally, Savant Capital LLC bought a new stake in shares of Copa during the 2nd quarter valued at $240,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Copa in a report on Wednesday, October 8th. Raymond James Financial set a $164.00 price objective on Copa and gave the company a “strong-buy” rating in a research report on Monday, November 3rd. Itau BBA Securities started coverage on Copa in a research note on Sunday, November 30th. They issued a “market perform” rating for the company. Evercore ISI lifted their target price on Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Citigroup lowered their price target on Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $159.43.

Copa Stock Up 1.4%

CPA opened at $120.11 on Monday. The company has a market capitalization of $4.94 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The firm has a 50-day simple moving average of $122.83 and a two-hundred day simple moving average of $116.18. The company has a quick ratio of 0.95, a current ratio of 1.06 and a debt-to-equity ratio of 0.61. Copa Holdings, S.A. has a 52 week low of $82.54 and a 52 week high of $130.00.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, November 19th. The transportation company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.17. Copa had a return on equity of 26.39% and a net margin of 18.83%.The company had revenue of $913.15 million for the quarter, compared to the consensus estimate of $917.51 million. During the same period in the previous year, the business earned $3.50 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 5.4%. Copa’s dividend payout ratio (DPR) is 40.05%.

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.