Jane Street Group LLC acquired a new stake in Copa Holdings, S.A. (NYSE:CPA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,580 shares of the transportation company’s stock, valued at approximately $252,000.
A number of other hedge funds have also made changes to their positions in CPA. JPMorgan Chase & Co. boosted its stake in Copa by 33.6% in the second quarter. JPMorgan Chase & Co. now owns 2,350,989 shares of the transportation company’s stock valued at $226,870,000 after acquiring an additional 590,832 shares during the last quarter. Brandes Investment Partners LP increased its stake in Copa by 48.7% in the second quarter. Brandes Investment Partners LP now owns 986,970 shares of the transportation company’s stock worth $96,299,000 after purchasing an additional 323,251 shares during the period. BlackRock Inc. increased its stake in Copa by 25.3% in the second quarter. BlackRock Inc. now owns 1,591,467 shares of the transportation company’s stock worth $155,280,000 after purchasing an additional 321,725 shares during the period. Renaissance Technologies LLC increased its stake in Copa by 32.7% in the second quarter. Renaissance Technologies LLC now owns 1,029,900 shares of the transportation company’s stock worth $100,487,000 after purchasing an additional 254,000 shares during the period. Finally, Thoroughbred Financial Services LLC purchased a new stake in Copa in the second quarter worth $21,758,000. 68.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the company. UBS Group upgraded Copa from a “neutral” rating to a “buy” rating in a research note on Friday, September 27th. ValuEngine lowered Copa from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 14th. Raymond James upgraded Copa from a “market perform” rating to an “outperform” rating and set a $127.00 target price on the stock in a research note on Friday, August 9th. Buckingham Research increased their target price on Copa from $119.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research lowered Copa from a “buy” rating to a “sell” rating and set a $106.00 target price on the stock. in a research note on Wednesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Copa presently has a consensus rating of “Hold” and an average price target of $109.09.
Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $645.10 million for the quarter, compared to analyst estimates of $625.92 million. Copa had a return on equity of 12.35% and a net margin of 1.59%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. Research analysts expect that Copa Holdings, S.A. will post 7.8 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 2.62%. Copa’s dividend payout ratio is currently 39.88%.
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.
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