Signet Financial Management LLC Decreases Position in Copa Holdings, S.A. (NYSE:CPA)

Signet Financial Management LLC trimmed its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,306 shares of the transportation company’s stock after selling 775 shares during the quarter. Signet Financial Management LLC’s holdings in Copa were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its stake in shares of Copa by 14.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 14,850 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 1,850 shares during the last quarter. Legend Financial Advisors Inc. grew its position in Copa by 5.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 7,692 shares of the transportation company’s stock worth $676,000 after purchasing an additional 406 shares during the last quarter. Range Financial Group LLC purchased a new stake in Copa during the 4th quarter worth approximately $1,086,000. CWA Asset Management Group LLC increased its stake in Copa by 24.7% during the 4th quarter. CWA Asset Management Group LLC now owns 8,116 shares of the transportation company’s stock valued at $713,000 after purchasing an additional 1,605 shares in the last quarter. Finally, Optimist Retirement Group LLC purchased a new position in shares of Copa in the third quarter worth $240,000. 70.09% of the stock is owned by institutional investors and hedge funds.

Copa Price Performance

Shares of CPA opened at $88.40 on Tuesday. The company has a market capitalization of $3.48 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.72 and a beta of 1.44. The business’s 50-day moving average is $92.08 and its two-hundred day moving average is $92.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The company had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. During the same period last year, the business earned $4.39 earnings per share. Copa’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts predict that Copa Holdings, S.A. will post 14.48 earnings per share for the current year.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date was Monday, December 2nd. Copa’s dividend payout ratio (DPR) is presently 42.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPA. UBS Group boosted their price objective on shares of Copa from $160.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $153.29.

About Copa

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.