Renaissance Technologies LLC Trims Stake in Copa Holdings, S.A. $CPA

Renaissance Technologies LLC reduced its holdings in Copa Holdings, S.A. (NYSE:CPA) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 734,428 shares of the transportation company’s stock after selling 38,100 shares during the quarter. Renaissance Technologies LLC owned 1.79% of Copa worth $83,438,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new position in shares of Copa during the fourth quarter worth about $27,000. Empowered Funds LLC purchased a new stake in Copa in the fourth quarter valued at approximately $29,000. US Bancorp DE raised its stake in Copa by 90.2% in the third quarter. US Bancorp DE now owns 253 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Copa by 284.2% in the first quarter. SJS Investment Consulting Inc. now owns 292 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in Copa during the third quarter valued at approximately $36,000. Institutional investors own 70.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James Financial boosted their price target on shares of Copa from $190.00 to $195.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 14th. UBS Group raised their price objective on shares of Copa from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Copa from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Evercore reiterated an “outperform” rating and issued a $175.00 target price on shares of Copa in a research report on Friday, May 15th. Finally, The Goldman Sachs Group increased their target price on Copa from $138.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Copa currently has an average rating of “Buy” and an average price target of $171.73.

Copa Stock Performance

NYSE:CPA opened at $136.09 on Friday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 1.00 and a beta of 1.00. The business has a 50 day moving average of $143.61 and a 200 day moving average of $133.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.06. Copa Holdings, S.A. has a 1-year low of $107.44 and a 1-year high of $160.46.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, May 13th. The transportation company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.73. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Copa had a net margin of 18.76% and a return on equity of 26.01%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business earned $4.28 earnings per share. On average, sell-side analysts predict that Copa Holdings, S.A. will post 16.6 earnings per share for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $6.84 annualized dividend and a yield of 5.0%. Copa’s payout ratio is currently 39.88%.

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.