Baillie Gifford & Co. Cuts Stake in Copa Holdings, S.A. $CPA

Baillie Gifford & Co. lowered its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,765,296 shares of the transportation company’s stock after selling 137,799 shares during the quarter. Baillie Gifford & Co. owned approximately 0.07% of Copa worth $328,572,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new position in Copa in the second quarter valued at about $25,000. CWM LLC increased its stake in shares of Copa by 408.2% during the 3rd quarter. CWM LLC now owns 249 shares of the transportation company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Copa by 271.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 260 shares of the transportation company’s stock worth $31,000 after purchasing an additional 190 shares during the period. Marquette Asset Management LLC purchased a new position in Copa in the third quarter valued at approximately $36,000. Finally, Richardson Financial Services Inc. lifted its stake in Copa by 121.2% in the third quarter. Richardson Financial Services Inc. now owns 480 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

CPA has been the subject of a number of recent research reports. Raymond James Financial set a $164.00 target price on Copa and gave the stock 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 set a “market perform” rating for the company. JPMorgan Chase & Co. lowered their price objective on Copa from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Evercore ISI upped their price objective on shares of Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Finally, Wall Street Zen lowered shares of Copa from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $156.00.

Copa Price Performance

Shares of NYSE CPA opened at $133.77 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 1.06. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $137.31. The stock has a market cap of $5.51 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The stock has a fifty day moving average of $123.20 and a 200-day moving average of $119.92.

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

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, December 1st. Copa’s dividend payout ratio is 40.05%.

Copa Profile

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.