Alaska Permanent Fund Corp Sells 3,466 Shares of Copa Holdings, S.A. (NYSE:CPA)

Alaska Permanent Fund Corp cut its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,334 shares of the transportation company’s stock after selling 3,466 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Copa were worth $1,843,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. DAVENPORT & Co LLC lifted its holdings in shares of Copa by 28.5% during the third quarter. DAVENPORT & Co LLC now owns 5,235 shares of the transportation company’s stock valued at $467,000 after purchasing an additional 1,160 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Copa by 19.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 5,000 shares of the transportation company’s stock valued at $446,000 after acquiring an additional 800 shares during the period. Deltec Asset Management LLC boosted its holdings in shares of Copa by 31.1% during the 3rd quarter. Deltec Asset Management LLC now owns 40,445 shares of the transportation company’s stock valued at $3,604,000 after acquiring an additional 9,595 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Copa by 26.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 94,662 shares of the transportation company’s stock valued at $8,436,000 after purchasing an additional 19,518 shares during the last quarter. Finally, Bailard Inc. lifted its position in Copa by 21.2% during the third quarter. Bailard Inc. now owns 4,000 shares of the transportation company’s stock valued at $356,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Monday, February 12th.

Copa Stock Up 1.1 %

Shares of CPA opened at $99.14 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.58. 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 $3.91 billion, a PE ratio of 7.76, a P/E/G ratio of 0.35 and a beta of 1.39. The business has a fifty day moving average of $100.88 and a 200 day moving average of $96.66.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, February 7th. The transportation company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.57. Copa had a return on equity of 37.03% and a net margin of 14.97%. The firm had revenue of $916.93 million during the quarter, compared to analyst estimates of $886.13 million. During the same period last year, the company earned $4.49 EPS. Copa’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Copa Holdings, S.A. will post 16.15 EPS for the current year.

Copa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.50%. This is a boost from Copa’s previous quarterly dividend of $0.82. The ex-dividend date was Wednesday, February 28th. Copa’s dividend payout ratio is presently 50.39%.

About Copa

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.