Envestnet Asset Management Inc. Boosts Holdings in Copa Holdings, S.A. $CPA

Envestnet Asset Management Inc. raised its position in Copa Holdings, S.A. (NYSE:CPA) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,675 shares of the transportation company’s stock after purchasing an additional 26,158 shares during the period. Envestnet Asset Management Inc.’s holdings in Copa were worth $12,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Carrera Capital Advisors bought a new stake in Copa during the third quarter valued at approximately $4,363,000. Savant Capital LLC purchased a new stake in shares of Copa during the 2nd quarter valued at $240,000. Cullen Capital Management LLC lifted its holdings in shares of Copa by 111.1% during the 2nd quarter. Cullen Capital Management LLC now owns 184,228 shares of the transportation company’s stock worth $20,260,000 after acquiring an additional 96,968 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Copa by 26.2% in the second quarter. Artisan Partners Limited Partnership now owns 214,533 shares of the transportation company’s stock worth $23,592,000 after acquiring an additional 44,513 shares in the last quarter. Finally, Trek Financial LLC increased its stake in Copa by 27.4% in the second quarter. Trek Financial LLC now owns 71,885 shares of the transportation company’s stock valued at $7,905,000 after acquiring an additional 15,471 shares during the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Copa in a research note on Wednesday, January 21st. Wall Street Zen upgraded Copa from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. The Goldman Sachs Group lowered Copa from a “buy” rating to a “neutral” rating and upped their target price for the stock from $150.00 to $151.00 in a research note on Thursday, February 12th. Evercore reissued an “outperform” rating and set a $185.00 price target on shares of Copa in a research note on Friday. Finally, Barclays boosted their price objective on shares of Copa from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $167.75.

Copa Price Performance

Shares of Copa stock opened at $146.76 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.06 and a quick ratio of 0.95. Copa Holdings, S.A. has a one year low of $82.54 and a one year high of $156.41. The business’s 50 day simple moving average is $131.78 and its two-hundred day simple moving average is $124.27. The stock has a market capitalization of $6.04 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, February 11th. The transportation company reported $4.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.44 by ($0.26). Copa had a return on equity of 26.14% and a net margin of 18.57%.The firm had revenue of $962.89 million during the quarter, compared to the consensus estimate of $959.22 million. During the same quarter in the prior year, the business posted $3.99 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current year.

Copa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $1.71 dividend. The ex-dividend date is Friday, February 27th. This is a positive change from Copa’s previous quarterly dividend of $1.61. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.7%. Copa’s dividend payout ratio is presently 39.58%.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.