Principal Financial Group Inc. trimmed its position in Copa Holdings, S.A. (NYSE:CPA) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,280 shares of the transportation company’s stock after selling 12,341 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of Copa Holdings, worth $28,464,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of CPA. Pictet Asset Management Ltd. bought a new stake in shares of Copa Holdings, in the first quarter worth about $191,000. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Copa Holdings, in the first quarter worth about $213,000. HighTower Advisors LLC bought a new stake in shares of Copa Holdings, in the first quarter worth about $219,000. Global X Management Co. LLC increased its holdings in shares of Copa Holdings, by 0.9% in the second quarter. Global X Management Co. LLC now owns 2,010 shares of the transportation company’s stock worth $235,000 after purchasing an additional 17 shares during the last quarter. Finally, Wealthsource Partners LLC bought a new stake in shares of Copa Holdings, in the first quarter worth about $253,000. 64.30% of the stock is currently owned by hedge funds and other institutional investors.
CPA has been the topic of several analyst reports. BidaskClub cut Copa Holdings, from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Stifel Nicolaus reissued a “hold” rating and set a $120.00 price objective on shares of Copa Holdings, in a research note on Friday, August 11th. Zacks Investment Research cut Copa Holdings, from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Bank of America Corporation boosted their price objective on Copa Holdings, from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $137.00 price objective (up from $134.00) on shares of Copa Holdings, in a research note on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $112.32.
Copa Holdings, S.A. (CPA) opened at 134.01 on Friday. Copa Holdings, S.A. has a 12 month low of $83.26 and a 12 month high of $134.13. The firm’s 50 day moving average price is $126.03 and its 200 day moving average price is $118.13. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 17.27 and a beta of 1.81.
Copa Holdings, (NYSE:CPA) last posted its earnings results on Wednesday, August 9th. The transportation company reported $1.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.48. Copa Holdings, had a net margin of 14.17% and a return on equity of 14.98%. The firm had revenue of $578.10 million during the quarter, compared to the consensus estimate of $567.47 million. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts predict that Copa Holdings, S.A. will post $8.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, August 29th. This is an increase from Copa Holdings,’s previous quarterly dividend of $0.51. Copa Holdings,’s dividend payout ratio (DPR) is 37.93%.
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About Copa Holdings,
Copa Holdings, SA is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama.
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