31,993 Shares in Copa Holdings, S.A. (NYSE:CPA) Acquired by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. purchased a new position in shares of Copa Holdings, S.A. (NYSE:CPA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 31,993 shares of the transportation company’s stock, valued at approximately $3,002,000.

Several other hedge funds also recently added to or reduced their stakes in CPA. Hexagon Capital Partners LLC lifted its stake in shares of Copa by 14.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock worth $85,000 after acquiring an additional 116 shares during the period. Bell Investment Advisors Inc raised its holdings in shares of Copa by 29.6% during the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after buying an additional 143 shares during the last quarter. Carson Advisory Inc. lifted its position in shares of Copa by 9.1% during the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock valued at $352,000 after acquiring an additional 308 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Copa by 8.8% during the 2nd quarter. First Hawaiian Bank now owns 5,440 shares of the transportation company’s stock valued at $518,000 after acquiring an additional 440 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Copa by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock valued at $413,000 after purchasing an additional 569 shares during the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Price Performance

Shares of CPA stock opened at $90.95 on Tuesday. The firm has a fifty day moving average of $97.25 and a 200-day moving average of $94.50. The company has a quick ratio of 0.99, a current ratio of 1.09 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 firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 6.02, a price-to-earnings-growth ratio of 0.73 and a beta of 1.45.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 7.08%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is presently 42.59%.

Analysts Set New Price Targets

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

Copa 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.