Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Grupo Aeroportuario Del Pacifico by 21.5%, now holding approximately 31,452 shares valued at about $5.83 million.
• Grupo Aeroportuario Del Pacifico recently announced an increase in its semi-annual dividend to $4.3222, representing a substantial yield of 340.0%.
• Research analysts have varied opinions on Grupo Aeroportuario Del Pacifico, with ratings ranging from strong buy to underperform and an average price target of $200.00.

Mackenzie Financial Corp lessened its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 21.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,452 shares of the transportation company's stock after selling 8,597 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Grupo Aeroportuario Del Pacifico worth $5,835,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAC. Cetera Investment Advisers lifted its position in shares of Grupo Aeroportuario Del Pacifico by 9.4% in the first quarter. Cetera Investment Advisers now owns 4,900 shares of the transportation company's stock valued at $909,000 after acquiring an additional 420 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in shares of Grupo Aeroportuario Del Pacifico in the first quarter valued at $13,756,000. Kestra Private Wealth Services LLC lifted its position in shares of Grupo Aeroportuario Del Pacifico by 2.2% in the first quarter. Kestra Private Wealth Services LLC now owns 2,973 shares of the transportation company's stock valued at $552,000 after acquiring an additional 65 shares in the last quarter. Novem Group lifted its position in shares of Grupo Aeroportuario Del Pacifico by 32.6% in the first quarter. Novem Group now owns 5,997 shares of the transportation company's stock valued at $1,113,000 after acquiring an additional 1,475 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Grupo Aeroportuario Del Pacifico by 24.9% in the first quarter. WCM Investment Management LLC now owns 4,968 shares of the transportation company's stock valued at $932,000 after acquiring an additional 991 shares in the last quarter. Institutional investors and hedge funds own 11.73% of the company's stock.

Grupo Aeroportuario Del Pacifico Stock Performance

Shares of NYSE PAC traded up $1.27 during mid-day trading on Tuesday, hitting $230.15. The company had a trading volume of 28,036 shares, compared to its average volume of 90,588. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.77 and a beta of 1.14. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 12 month low of $148.87 and a 12 month high of $241.62. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.95 and a quick ratio of 0.95. The firm's 50 day simple moving average is $228.48 and its two-hundred day simple moving average is $207.35.

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

Grupo Aeroportuario Del Pacifico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Investors of record on Wednesday, August 13th will be given a $4.4656 dividend. The ex-dividend date is Wednesday, August 13th. This represents a yield of 350.0%. This is an increase from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. Grupo Aeroportuario Del Pacifico's payout ratio is 40.25%.

Analysts Set New Price Targets

PAC has been the topic of several recent research reports. Scotiabank upgraded Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to a "neutral" rating in a research note on Friday, May 23rd. Wall Street Zen downgraded Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Bank of America downgraded Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Grupo Aeroportuario Del Pacifico currently has a consensus rating of "Hold" and a consensus price target of $200.00.

About Grupo Aeroportuario Del Pacifico

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.