Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC Shares Acquired by Price T Rowe Associates Inc. MD

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

A number of other institutional investors have also made changes to their positions in PAC. Deutsche Bank AG grew its holdings in shares of Grupo Aeroportuario Del Pacifico by 82.0% in the fourth quarter. Deutsche Bank AG now owns 758,512 shares of the transportation company's stock valued at $132,732,000 after purchasing an additional 341,661 shares in the last quarter. Nuveen LLC acquired a new position in shares of Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $35,349,000. Carnegie Investment Counsel acquired a new position in shares of Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $13,756,000. Northern Trust Corp grew its holdings in shares of Grupo Aeroportuario Del Pacifico by 1,688.3% in the fourth quarter. Northern Trust Corp now owns 75,536 shares of the transportation company's stock valued at $13,218,000 after purchasing an additional 71,312 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Grupo Aeroportuario Del Pacifico by 31.0% in 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 in the last quarter. 11.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Grupo Aeroportuario Del Pacifico Stock Down 0.1%

Shares of Grupo Aeroportuario Del Pacifico stock opened at $247.1910 on Friday. 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 50 day moving average of $232.12 and a 200 day moving average of $212.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $12.49 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.05 and a beta of 1.14.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The transportation company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $584.36 million during the quarter, compared to analysts' expectations of $10.86 billion. As a group, research analysts forecast that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 10 EPS for the current fiscal year.

Grupo Aeroportuario Del Pacifico Increases Dividend

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

Grupo Aeroportuario Del Pacifico 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.

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