Allspring Global Investments Holdings LLC Has $6.96 Million Holdings in Copa Holdings, S.A. (NYSE:CPA)

Allspring Global Investments Holdings LLC decreased its stake in Copa Holdings, S.A. (NYSE:CPA) by 30.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,511 shares of the transportation company’s stock after selling 29,239 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.17% of Copa worth $6,964,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its holdings in shares of Copa by 16.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock worth $92,000 after purchasing an additional 151 shares during the last quarter. Ergoteles LLC acquired a new stake in shares of Copa during the first quarter worth approximately $435,000. Prudential Financial Inc. bought a new position in shares of Copa in the first quarter valued at approximately $4,152,000. First Trust Advisors LP acquired a new position in shares of Copa in the 1st quarter worth approximately $1,904,000. Finally, Penserra Capital Management LLC grew its position in Copa by 96.9% during the 1st quarter. Penserra Capital Management LLC now owns 1,693 shares of the transportation company’s stock worth $141,000 after acquiring an additional 833 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Price Performance

CPA opened at $97.92 on Thursday. The company’s 50 day simple moving average is $100.76 and its 200-day simple moving average is $96.09. Copa Holdings, S.A. has a one year low of $78.12 and a one year high of $121.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.94 and a quick ratio of 0.86. The stock has a market capitalization of $3.86 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 0.34 and a beta of 1.39.

Copa (NYSE:CPA) last released its earnings results on Wednesday, February 7th. The transportation company reported $4.47 EPS for the quarter, beating the consensus estimate of $3.90 by $0.57. The company had revenue of $916.93 million during the quarter, compared to analysts’ expectations of $886.13 million. Copa had a return on equity of 37.03% and a net margin of 14.97%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $4.49 EPS. Sell-side analysts anticipate that Copa Holdings, S.A. will post 16.15 earnings per share for the current fiscal year.

Copa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $1.61 per share. The ex-dividend date was Wednesday, February 28th. This is an increase from Copa’s previous quarterly dividend of $0.82. This represents a $6.44 dividend on an annualized basis and a yield of 6.58%. Copa’s dividend payout ratio is presently 50.39%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research note on Monday, February 12th.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.