Channing Global Advisors LLC Decreases Stock Position in Copa Holdings, S.A. (NYSE:CPA)

Channing Global Advisors LLC lowered its stake in Copa Holdings, S.A. (NYSE:CPA) by 53.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,410 shares of the transportation company’s stock after selling 6,168 shares during the quarter. Channing Global Advisors LLC’s holdings in Copa were worth $508,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Carrhae Capital LLP acquired a new stake in Copa during the third quarter worth approximately $52,166,000. Vontobel Holding Ltd. grew its holdings in shares of Copa by 7,848.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock worth $39,280,000 after purchasing an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. increased its position in Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after purchasing an additional 236,850 shares in the last quarter. Raymond James & Associates raised its holdings in Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after buying an additional 112,143 shares during the period. Finally, Wishbone Management LP lifted its position in Copa by 20.0% during the third quarter. Wishbone Management LP now owns 420,000 shares of the transportation company’s stock valued at $39,413,000 after buying an additional 70,000 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CPA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI reduced their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen reduced their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa currently has an average rating of “Buy” and an average price target of $148.83.

Copa Stock Up 0.5 %

CPA opened at $93.35 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.89. Copa Holdings, S.A. has a 12 month low of $80.01 and a 12 month high of $114.00. The stock’s 50 day moving average price is $97.19 and its 200 day moving average price is $94.80. The stock has a market cap of $3.68 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.73 and a beta of 1.48.

Copa Dividend Announcement

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

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.