Price T Rowe Associates Inc. MD Raises Stock Position in Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• Price T Rowe Associates Inc. increased its stake in Grupo Aeroportuario Del Pacifico by 4.3%, holding approximately 2.18% of the company, valued at $204.4 million.
• Grupo Aeroportuario Del Pacifico's stock received mixed ratings from analysts, with one Strong Buy, three Buy, three Hold, and one Sell rating, while the average rating stands at "Moderate Buy" with a consensus price target of $200.00.
• The company announced a semi-annual dividend of $4.4656 per share, up from its previous $4.32, representing a significant yield of 350.0%.

Price T Rowe Associates Inc. MD increased its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,933 shares of the transportation company's stock after purchasing an additional 45,479 shares during the period. Price T Rowe Associates Inc. MD owned 2.18% of Grupo Aeroportuario Del Pacifico worth $204,421,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PAC. LPL Financial LLC acquired a new position in shares of Grupo Aeroportuario Del Pacifico during the 4th quarter worth approximately $470,000. Geode Capital Management LLC boosted its position in Grupo Aeroportuario Del Pacifico by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,615 shares of the transportation company's stock worth $458,000 after acquiring an additional 150 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Grupo Aeroportuario Del Pacifico by 21.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 8,018 shares of the transportation company's stock worth $1,403,000 after acquiring an additional 1,436 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Grupo Aeroportuario Del Pacifico during the fourth quarter worth approximately $875,000. Finally, Barclays PLC acquired a new stake in Grupo Aeroportuario Del Pacifico during the fourth quarter worth approximately $483,000. 11.73% of the stock is currently owned by institutional investors and hedge funds.

Grupo Aeroportuario Del Pacifico Trading Down 1.2%

NYSE:PAC traded down $2.96 during trading hours on Friday, reaching $243.15. 9,224 shares of the company were exchanged, compared to its average volume of 88,578. 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 has a market cap of $12.29 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 3.00 and a beta of 1.14. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 52-week low of $163.76 and a 52-week high of $256.22. The stock has a 50 day simple moving average of $233.62 and a 200 day simple moving average of $214.16.

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 analysts' consensus estimates of $2.75 by ($0.05). The company had revenue of $584.36 million for the quarter, compared to analysts' expectations of $10.86 billion. Grupo Aeroportuario Del Pacifico had a return on equity of 39.81% and a net margin of 24.28%. As a group, analysts predict 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 declared a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th were paid a dividend of $4.4656 per share. This is an increase from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. This represents a yield of 350.0%. The ex-dividend date of this dividend was Wednesday, August 13th. Grupo Aeroportuario Del Pacifico's payout ratio is 81.85%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PAC shares. 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. Scotiabank upgraded shares of Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 19th. Bank of America lowered shares of Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a research report on Thursday, June 12th. Finally, Wall Street Zen lowered shares of Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Grupo Aeroportuario Del Pacifico presently has a consensus rating of "Hold" and a consensus target price 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.