1832 Asset Management L.P. Invests $13.03 Million in Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• 1832 Asset Management L.P. invested approximately $13.03 million in Grupo Aeroportuario Del Pacifico, acquiring 70,222 shares and owning 0.14% of the company as of its latest SEC filing.
• Grupo Aeroportuario Del Pacifico announced a semi-annual dividend increase to $4.4656, up from $4.32, with a yield of 350.0% and a payout ratio of 81.95%.
• Shares of Grupo Aeroportuario Del Pacifico saw mixed analyst ratings, with one strong buy, three buys, three holds, and one sell, while the average price target stands at $200.00.

1832 Asset Management L.P. acquired a new stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,222 shares of the transportation company's stock, valued at approximately $13,027,000. 1832 Asset Management L.P. owned 0.14% of Grupo Aeroportuario Del Pacifico as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Grupo Aeroportuario Del Pacifico by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,101,933 shares of the transportation company's stock valued at $204,421,000 after acquiring an additional 45,479 shares in the last quarter. Deutsche Bank AG increased its position in shares of Grupo Aeroportuario Del Pacifico by 7.2% in the first quarter. Deutsche Bank AG now owns 813,007 shares of the transportation company's stock worth $150,821,000 after purchasing an additional 54,495 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Grupo Aeroportuario Del Pacifico by 4.1% in the fourth quarter. Lazard Asset Management LLC now owns 665,506 shares of the transportation company's stock worth $116,455,000 after purchasing an additional 25,918 shares during the last quarter. Nuveen LLC purchased a new stake in Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $35,349,000. Finally, Itau Unibanco Holding S.A. lifted its position in Grupo Aeroportuario Del Pacifico by 31.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 174,266 shares of the transportation company's stock valued at $30,495,000 after purchasing an additional 41,266 shares during the last quarter. 11.73% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario Del Pacifico Price Performance

Shares of Grupo Aeroportuario Del Pacifico stock opened at $247.1910 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.95 and a current ratio of 0.95. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 52-week low of $156.48 and a 52-week high of $256.22. The company has a fifty day moving average of $232.12 and a 200-day moving average of $212.81. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The transportation company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.05). Grupo Aeroportuario Del Pacifico had a return on equity of 39.81% and a net margin of 24.28%.The business had revenue of $584.36 million during the quarter, compared to the consensus estimate of $10.86 billion. Equities research analysts expect that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 10 EPS for the current year.

Grupo Aeroportuario Del Pacifico Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th will be paid a $4.4656 dividend. This is a boost from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a dividend yield of 350.0%. Grupo Aeroportuario Del Pacifico's dividend payout ratio is presently 81.95%.

Analyst Ratings Changes

PAC has been the topic of a number of research analyst reports. Scotiabank raised shares of Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upgraded shares of Grupo Aeroportuario Del Pacifico from an "underweight" rating to a "neutral" rating in a research report on Friday, May 23rd. Bank of America cut Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a research note on Thursday, June 12th. Finally, Wall Street Zen lowered Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Aeroportuario Del Pacifico has an average rating of "Moderate Buy" and an average price target of $200.00.

Grupo Aeroportuario Del Pacifico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.