Citigroup Inc. Sells 153,378 Shares of Copa Holdings, S.A. (NYSE:CPA)

Citigroup Inc. reduced its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 514,665 shares of the transportation company’s stock after selling 153,378 shares during the quarter. Citigroup Inc. owned 1.31% of Copa worth $48,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in shares of Copa by 14.9% during the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 116 shares in the last quarter. Rhumbline Advisers lifted its holdings in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after acquiring an additional 1,380 shares during the period. Mackenzie Financial Corp lifted its holdings in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 610 shares during the period. Qsemble Capital Management LP bought a new position in Copa in the second quarter valued at about $268,000. Finally, nVerses Capital LLC bought a new position in Copa in the third quarter valued at about $291,000. 70.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CPA. TD Cowen lowered their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI lowered their target price on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Stock Performance

NYSE:CPA opened at $93.37 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. Copa Holdings, S.A. has a 12-month low of $80.01 and a 12-month high of $114.00. The stock has a 50-day moving average price of $96.99 and a 200 day moving average price of $94.95. The stock has a market capitalization of $3.68 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.58 and a beta of 1.48.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s dividend payout ratio is currently 42.59%.

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.