Alaska Permanent Fund Corp Sells 3,466 Shares of Copa Holdings, S.A. (NYSE:CPA)

Alaska Permanent Fund Corp lessened its position in shares of Copa Holdings, S.A. (NYSE:CPA) by 16.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,334 shares of the transportation company’s stock after selling 3,466 shares during the period. Alaska Permanent Fund Corp’s holdings in Copa were worth $1,843,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Copa by 1,778.4% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 907 shares in the last quarter. Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of Copa in the fourth quarter worth $207,000. Cable Hill Partners LLC boosted its stake in shares of Copa by 9.3% in the 3rd quarter. Cable Hill Partners LLC now owns 3,332 shares of the transportation company’s stock valued at $297,000 after purchasing an additional 283 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Copa by 18.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,602 shares of the transportation company’s stock valued at $321,000 after purchasing an additional 551 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Copa during the third quarter worth about $333,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

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

Copa Stock Up 1.1 %

Shares of NYSE CPA opened at $99.14 on Friday. The firm has a fifty day moving average of $100.88 and a 200-day moving average of $96.66. Copa Holdings, S.A. has a 52-week low of $78.12 and a 52-week high of $121.20. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.91 billion, a PE ratio of 7.76, a P/E/G ratio of 0.35 and a beta of 1.39.

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

Copa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 6.50%. Copa’s payout ratio is presently 50.39%.

Copa Company 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.