Bank of America Corp DE Raises Position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

Bank of America Corp DE boosted its position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC - Free Report) by 60.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,736 shares of the transportation company's stock after acquiring an additional 6,665 shares during the period. Bank of America Corp DE's holdings in Grupo Aeroportuario del Pacífico were worth $3,104,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PAC. Signaturefd LLC grew its holdings in Grupo Aeroportuario del Pacífico by 32.1% in the 4th quarter. Signaturefd LLC now owns 333 shares of the transportation company's stock worth $58,000 after acquiring an additional 81 shares during the last quarter. Fifth Third Bancorp grew its holdings in Grupo Aeroportuario del Pacífico by 327.4% in the 4th quarter. Fifth Third Bancorp now owns 359 shares of the transportation company's stock worth $63,000 after acquiring an additional 275 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Grupo Aeroportuario del Pacífico by 8,020.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 406 shares of the transportation company's stock worth $71,000 after acquiring an additional 401 shares during the last quarter. Blue Trust Inc. grew its holdings in Grupo Aeroportuario del Pacífico by 13.6% in the 4th quarter. Blue Trust Inc. now owns 443 shares of the transportation company's stock worth $78,000 after acquiring an additional 53 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Grupo Aeroportuario del Pacífico by 22.1% in the 4th quarter. US Bancorp DE now owns 547 shares of the transportation company's stock worth $96,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 11.73% of the company's stock.

Grupo Aeroportuario del Pacífico Stock Up 1.0%

NYSE PAC traded up $2.39 during trading hours on Monday, reaching $232.12. 58,707 shares of the company's stock traded hands, compared to its average volume of 74,075. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has a 52-week low of $146.62 and a 52-week high of $237.22. The firm has a market cap of $11.73 billion, a PE ratio of 23.07, a PEG ratio of 1.28 and a beta of 1.10. The firm has a 50-day simple moving average of $203.57 and a 200 day simple moving average of $193.49. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.50 and a quick ratio of 1.50.

Grupo Aeroportuario del Pacífico (NYSE:PAC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported $2.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.13 by ($0.41). Grupo Aeroportuario del Pacífico had a net margin of 27.04% and a return on equity of 43.75%. The business had revenue of $541.03 million for the quarter, compared to analysts' expectations of $554.93 million. Sell-side analysts anticipate that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 10 EPS for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $4.3222 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Grupo Aeroportuario del Pacífico's previous semi-annual dividend of $3.87. This represents a yield of 3.4%. Grupo Aeroportuario del Pacífico's payout ratio is 40.78%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PAC. Jefferies Financial Group raised shares of Grupo Aeroportuario del Pacífico from an "underperform" rating to a "hold" rating and lifted their target price for the company from $140.00 to $210.00 in a research note on Wednesday, February 12th. Bank of America lowered shares of Grupo Aeroportuario del Pacífico from a "buy" rating to a "neutral" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Pacífico from an "underweight" rating to a "neutral" rating in a research note on Friday, May 23rd. Scotiabank raised shares of Grupo Aeroportuario del Pacífico from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of Grupo Aeroportuario del Pacífico from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $200.00.

About Grupo Aeroportuario del Pacífico

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.