Tyers Asset Management LLC Cuts Stake in Copa Holdings, S.A. (NYSE:CPA)

Tyers Asset Management LLC reduced its position in Copa Holdings, S.A. (NYSE:CPA) by 14.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,160 shares of the transportation company’s stock after selling 1,064 shares during the quarter. Tyers Asset Management LLC’s holdings in Copa were worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp acquired a new stake in shares of Copa during the second quarter worth $29,000. Quantamental Technologies LLC acquired a new stake in shares of Copa during the second quarter worth $165,000. Pinnacle Associates Ltd. acquired a new stake in shares of Copa during the second quarter worth $203,000. Baltimore Capital Management Inc. acquired a new stake in shares of Copa during the first quarter worth $222,000. Finally, Commerce Bank acquired a new stake in shares of Copa during the first quarter worth $242,000. 68.88% of the stock is currently owned by institutional investors and hedge funds.

NYSE CPA traded down $2.60 on Friday, reaching $98.97. 9,125 shares of the company’s stock traded hands, compared to its average volume of 292,384. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.79 and a beta of 1.36. The stock has a 50 day moving average price of $102.64 and a 200-day moving average price of $92.70. Copa Holdings, S.A. has a fifty-two week low of $67.38 and a fifty-two week high of $113.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 0.96.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $645.10 million during the quarter, compared to the consensus estimate of $625.92 million. Copa had a net margin of 1.59% and a return on equity of 12.35%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, equities research analysts anticipate that Copa Holdings, S.A. will post 8.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 2.63%. Copa’s dividend payout ratio is presently 39.88%.

Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Copa from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Evercore ISI upgraded shares of Copa from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $110.00 to $115.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on shares of Copa from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 3rd. Buckingham Research boosted their target price on shares of Copa from $119.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, UBS Group downgraded shares of Copa from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $108.50.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.

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Institutional Ownership by Quarter for Copa (NYSE:CPA)

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