Empirical Finance LLC Trims Stock Position in Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• Empirical Finance cut its Grupo Aeroportuario del Pacífico stake by 25.1% in the second quarter, selling 18,763 shares and retaining 55,844 shares valued at approximately $14.1 million.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $250 price target, with four Buy, three Hold, and one Sell rating.
• PAC shares traded at $205.05, near their 12-month low, after the company missed quarterly estimates with EPS of $2.80 versus $3.10 expected and revenue of $645.2 million versus $732.3 million expected.

Empirical Finance LLC reduced its stake in Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 25.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,844 shares of the transportation company's stock after selling 18,763 shares during the quarter. Empirical Finance LLC owned 0.11% of Grupo Aeroportuario Del Pacifico worth $14,137,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lazard Asset Management LLC grew its position in Grupo Aeroportuario Del Pacifico by 1.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,172,634 shares of the transportation company's stock valued at $289,488,000 after buying an additional 18,139 shares during the last quarter. State Street Corp raised its position in Grupo Aeroportuario Del Pacifico by 3.6% during the 4th quarter. State Street Corp now owns 403,691 shares of the transportation company's stock worth $106,425,000 after buying an additional 14,079 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Grupo Aeroportuario Del Pacifico in the 4th quarter worth $42,634,000. Dimensional Fund Advisors LP lifted its stake in shares of Grupo Aeroportuario Del Pacifico by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 156,890 shares of the transportation company's stock worth $38,699,000 after acquiring an additional 2,090 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Grupo Aeroportuario Del Pacifico in the third quarter valued at about $30,453,000. Hedge funds and other institutional investors own 11.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a report on Monday, August 31st. Zacks Research cut Grupo Aeroportuario Del Pacifico from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Morgan Stanley raised Grupo Aeroportuario Del Pacifico from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $210.00 to $225.00 in a research note on Wednesday, August 5th. Finally, Citigroup raised Grupo Aeroportuario Del Pacifico from a "neutral" rating to a "buy" rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $250.00.

Grupo Aeroportuario Del Pacifico Price Performance

Shares of PAC traded down $3.12 during trading hours on Tuesday, reaching $205.05. The company had a trading volume of 115,276 shares, compared to its average volume of 119,248. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 12-month low of $201.43 and a 12-month high of $300.41. The firm has a 50 day simple moving average of $220.15 and a 200-day simple moving average of $237.41. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.47 and a beta of 0.93.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last released its quarterly earnings data on Monday, July 13th. The transportation company reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.30). Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%.The company had revenue of $645.23 million for the quarter, compared to analysts' expectations of $732.26 million. Research analysts expect that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11.04 earnings per share for the current year.

Grupo Aeroportuario Del Pacifico Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a leading airport operator in Mexico. Established in 1998 as part of the federal government’s airport privatization program, GAP holds long‐term concession agreements—typically 50 years—to manage, develop and operate airports under a public–private partnership model. Through these concessions, the company undertakes terminal expansions, runway maintenance and the modernization of navigation and security systems.

The company’s portfolio comprises 12 airports across Mexico’s Pacific and western regions, including major hubs such as Guadalajara, Tijuana, Los Cabos, Puerto Vallarta and Mazatlán, as well as regional facilities in Aguascalientes, Morelia and La Paz.

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