Kestra Investment Management LLC Acquires Shares of 8,468 Copa Holdings, S.A. (NYSE:CPA)

Kestra Investment Management LLC bought a new position in Copa Holdings, S.A. (NYSE:CPA) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 8,468 shares of the transportation company’s stock, valued at approximately $795,000.

Other hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc grew its position in Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after acquiring an additional 143 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Copa in the 3rd quarter worth approximately $82,000. Hexagon Capital Partners LLC increased its position in shares of Copa by 14.9% during the 2nd 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 during the last quarter. Rhumbline Advisers raised its holdings in Copa by 69,000.0% during the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after buying an additional 610 shares during the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. cut their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Evercore ISI decreased their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Price Performance

Shares of CPA opened at $93.37 on Monday. The stock has a market capitalization of $3.68 billion, a PE ratio of 6.18, a PEG ratio of 0.73 and a beta of 1.48. The company has a 50 day moving average price of $97.25 and a 200-day moving average price of $94.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.09. Copa Holdings, S.A. has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa Announces Dividend

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