TT International Asset Management LTD Invests $4.72 Million in Copa Holdings, S.A. (NYSE:CPA)

TT International Asset Management LTD bought a new position in Copa Holdings, S.A. (NYSE:CPA) in the 3rd quarter, Holdings Channel.com reports. The firm bought 50,340 shares of the transportation company’s stock, valued at approximately $4,723,000. Copa makes up 0.6% of TT International Asset Management LTD’s portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sprucegrove Investment Management Ltd. boosted its holdings in Copa by 8.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after purchasing an additional 236,850 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after purchasing an additional 16,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after purchasing an additional 65,525 shares during the last quarter. Carrhae Capital LLP purchased a new position in Copa in the third quarter valued at about $52,166,000. Finally, Marathon Asset Management Ltd boosted its holdings in Copa by 1.7% in the third quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company’s stock valued at $48,297,000 after purchasing an additional 8,524 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Trading Up 1.0 %

NYSE:CPA opened at $88.45 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $96.78 and its two-hundred day moving average is $93.76. Copa Holdings, S.A. has a 52 week low of $80.01 and a 52 week high of $114.00. The company has a market cap of $3.49 billion, a PE ratio of 5.85, a P/E/G ratio of 0.70 and a beta of 1.45.

Copa (NYSE:CPA) last released its earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $864.90 million. During the same quarter last year, the business posted $4.39 EPS. Copa’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Copa Holdings, S.A. will post 14.48 EPS for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date of this dividend is Monday, December 2nd. Copa’s payout ratio is 42.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPA. JPMorgan Chase & Co. reduced their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Copa presently has a consensus rating of “Buy” and a consensus price target of $148.83.

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.