Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC Shares Sold by ABS Direct Equity Fund LLC

Key Points

• ABS Direct Equity Fund LLC reduced its holdings in Grupo Aeroportuario Del Pacifico by 42.6%, selling 6,050 shares during the second quarter, now owning 8,150 shares valued at about $1.87 million.
• The company declared an increased semi-annual dividend of $4.4656, representing a yield of 350.0%, up from the previous dividend of $4.32.
• Grupo Aeroportuario Del Pacifico reported Q2 earnings per share of $2.70, missing estimates, with a net margin of 24.28% and a return on equity of 39.81%.

ABS Direct Equity Fund LLC trimmed its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 42.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,150 shares of the transportation company's stock after selling 6,050 shares during the quarter. Grupo Aeroportuario Del Pacifico accounts for about 3.0% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 13th biggest position. ABS Direct Equity Fund LLC's holdings in Grupo Aeroportuario Del Pacifico were worth $1,871,000 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. Parallel Advisors LLC boosted its holdings in Grupo Aeroportuario Del Pacifico by 20.3% in the first quarter. Parallel Advisors LLC now owns 350 shares of the transportation company's stock worth $65,000 after purchasing an additional 59 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of Grupo Aeroportuario Del Pacifico by 2.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,973 shares of the transportation company's stock worth $552,000 after buying an additional 65 shares during the last quarter. Invesco Ltd. boosted its stake in Grupo Aeroportuario Del Pacifico by 2.6% in the first quarter. Invesco Ltd. now owns 7,461 shares of the transportation company's stock valued at $1,384,000 after acquiring an additional 190 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Grupo Aeroportuario Del Pacifico during the 1st quarter valued at approximately $54,000. Finally, GHP Investment Advisors Inc. bought a new position in Grupo Aeroportuario Del Pacifico during the 1st quarter worth $70,000. Hedge funds and other institutional investors own 11.73% of the company's stock.

Grupo Aeroportuario Del Pacifico Stock Performance

Shares of NYSE PAC opened at $248.58 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.02. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 12 month low of $163.76 and a 12 month high of $259.33. The business's 50 day moving average is $242.37 and its two-hundred day moving average is $222.22. The company has a market cap of $12.56 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.06 and a beta of 1.11.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last released its quarterly earnings data 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 net margin of 24.28% and a return on equity of 39.81%. The firm had revenue of $584.36 million for the quarter, compared to the consensus estimate of $10.86 billion. On average, equities analysts expect 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 firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Wednesday, August 13th were issued a $4.4656 dividend. This is a positive change from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. This represents a dividend yield of 350.0%. The ex-dividend date of this dividend was Wednesday, August 13th. Grupo Aeroportuario Del Pacifico's dividend payout ratio (DPR) is presently 81.95%.

Analyst Upgrades and Downgrades

PAC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup reiterated a "hold" rating on shares of Grupo Aeroportuario Del Pacifico in a research report on Wednesday, September 10th. Finally, Bank of America downgraded Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $210.00.

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.

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