State of New Jersey Common Pension Fund D Has $2.28 Million Position in Copa Holdings, S.A. (NYSE:CPA)

State of New Jersey Common Pension Fund D boosted its stake in shares of Copa Holdings, S.A. (NYSE:CPA) by 39.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,407 shares of the transportation company’s stock after acquiring an additional 6,098 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Copa were worth $2,276,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Channing Global Advisors LLC increased its stake in shares of Copa by 80.9% in the fourth quarter. Channing Global Advisors LLC now owns 9,892 shares of the transportation company’s stock worth $1,052,000 after acquiring an additional 4,423 shares during the last quarter. Bailard Inc. increased its position in Copa by 55.0% in the 4th quarter. Bailard Inc. now owns 6,200 shares of the transportation company’s stock worth $659,000 after purchasing an additional 2,200 shares during the last quarter. Foundry Partners LLC acquired a new position in Copa in the 4th quarter worth about $4,003,000. Handelsbanken Fonder AB raised its stake in shares of Copa by 60.0% during the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the transportation company’s stock worth $850,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Copa by 1,778.4% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock valued at $103,000 after buying an additional 907 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Trading Up 1.9 %

Copa stock opened at $97.29 on Thursday. Copa Holdings, S.A. has a one year low of $78.12 and a one year high of $121.20. The company’s fifty day moving average price is $100.80 and its two-hundred day moving average price is $97.09. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.94 and a quick ratio of 0.86.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, February 7th. The transportation company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.57. Copa had a return on equity of 37.03% and a net margin of 14.97%. The business had revenue of $916.93 million for the quarter, compared to analyst estimates of $886.13 million. During the same quarter in the prior year, the firm posted $4.49 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that Copa Holdings, S.A. will post 16.15 earnings per share for the current fiscal year.

Copa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $1.61 dividend. This is a positive change from Copa’s previous quarterly dividend of $0.82. The ex-dividend date was Wednesday, February 28th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.62%. Copa’s dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analyst Weigh In

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

Copa Profile

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.