State Board of Administration of Florida Retirement System trimmed its holdings in Copa Holdings, S.A. (NYSE:CPA – Get Rating) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 43,075 shares of the transportation company's stock after selling 542 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Copa worth $3,603,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in Copa by 0.3% in the 1st quarter. Baillie Gifford & Co. now owns 4,754,045 shares of the transportation company's stock worth $397,629,000 after buying an additional 13,504 shares in the last quarter. Capital World Investors increased its holdings in Copa by 27.5% in the 4th quarter. Capital World Investors now owns 3,000,524 shares of the transportation company's stock worth $248,023,000 after buying an additional 647,229 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Copa in the 4th quarter worth about $197,875,000. Marshall Wace LLP increased its holdings in Copa by 9,033.9% in the 4th quarter. Marshall Wace LLP now owns 1,159,094 shares of the transportation company's stock worth $95,809,000 after buying an additional 1,146,404 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Copa by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 601,838 shares of the transportation company's stock worth $49,748,000 after buying an additional 17,299 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
Several equities research analysts recently commented on CPA shares. JPMorgan Chase & Co. reduced their price objective on Copa from $90.00 to $76.00 and set a "neutral" rating for the company in a report on Monday, June 27th. Barclays raised their target price on Copa from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Copa from $95.00 to $85.00 in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $100.14.
Copa Price Performance
NYSE CPA opened at $75.45 on Friday. Copa Holdings, S.A. has a 12 month low of $55.25 and a 12 month high of $97.63. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 11.86 and a beta of 1.37. The company's 50 day moving average is $65.06 and its two-hundred day moving average is $73.51. The company has a current ratio of 0.97, a quick ratio of 1.03 and a debt-to-equity ratio of 1.04.
Copa (NYSE:CPA – Get Rating) last released its earnings results on Wednesday, May 11th. The transportation company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.34. Copa had a net margin of 11.66% and a return on equity of 12.28%. The company had revenue of $571.58 million for the quarter, compared to analysts' expectations of $566.09 million. During the same quarter last year, the business earned ($2.23) EPS. As a group, research analysts anticipate that Copa Holdings, S.A. will post 5.27 earnings per share for the current year.
Copa Company Profile
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Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 204 daily scheduled flights to 69 destinations in 29 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2021, it operated a fleet of 91 aircraft comprising 77 Boeing 737-Next Generation aircraft and 14 Boeing 737 MAX 9 aircraft.
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