Maryland State Retirement & Pension System Cuts Holdings in Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Grupo Aeroportuario Del Pacífico by 4.4%, owning approximately 0.10% of the company, worth $11.4 million after selling 2,263 shares.
• Despite recent downgrades from several brokerages, including a move from "neutral" to "underperform" by Bank of America, Grupo Aeroportuario Del Pacífico maintains a consensus rating of "Hold" with a price target of $210.00.
• The company increased its semi-annual dividend to $4.4656 per share, representing a significant dividend yield of 350.0%, while its payout ratio stands at 81.95%.

Maryland State Retirement & Pension System lowered its stake in Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,687 shares of the transportation company's stock after selling 2,263 shares during the period. Maryland State Retirement & Pension System owned approximately 0.10% of Grupo Aeroportuario Del Pacifico worth $11,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in shares of Grupo Aeroportuario Del Pacifico by 2.2% during the first quarter. Kestra Private Wealth Services LLC now owns 2,973 shares of the transportation company's stock valued at $552,000 after buying an additional 65 shares during the period. Invesco Ltd. boosted its position in shares of Grupo Aeroportuario Del Pacifico by 2.6% during the first quarter. Invesco Ltd. now owns 7,461 shares of the transportation company's stock valued at $1,384,000 after buying an additional 190 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Grupo Aeroportuario Del Pacifico during the first quarter valued at approximately $54,000. Marshall Financial Group LLC boosted its position in shares of Grupo Aeroportuario Del Pacifico by 6.4% during the first quarter. Marshall Financial Group LLC now owns 6,305 shares of the transportation company's stock valued at $1,170,000 after buying an additional 377 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Grupo Aeroportuario Del Pacifico during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 11.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAC. Citigroup reiterated a "hold" rating on shares of Grupo Aeroportuario Del Pacifico in a report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a report on Wednesday. Bank of America lowered Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a report on Thursday, June 12th. Finally, Wall Street Zen downgraded shares of Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Grupo Aeroportuario Del Pacifico presently has a consensus rating of "Hold" and a consensus price target of $210.00.

Grupo Aeroportuario Del Pacifico Stock Performance

Shares of PAC stock opened at $230.54 on Thursday. The business's fifty day simple moving average is $243.69 and its 200-day simple moving average is $224.63. The company has a market cap of $11.65 billion, a PE ratio of 23.91, a PEG ratio of 2.83 and a beta of 1.13. The company has a current ratio of 0.95, a quick 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.

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). The business had revenue of $584.36 million for the quarter, compared to analyst estimates of $10.86 billion. Grupo Aeroportuario Del Pacifico had a return on equity of 39.81% and a net margin of 24.28%. Analysts expect that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 10 earnings per share for the current fiscal year.

Grupo Aeroportuario Del Pacifico Increases Dividend

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

Grupo Aeroportuario Del Pacifico Company 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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