Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) Stake Lowered by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System decreased its stake in Grupo Aeroportuario Del Pacifico by 3.2%, selling 1,726 shares, and now holds approximately 51,950 shares valued at $9.63 million.
• Several institutional investors showed significant activity, with Bank of America increasing its holdings by 60.2%, while Northern Trust Corp boosted its position by 1688.3% during the fourth quarter.
• Grupo Aeroportuario Del Pacifico declared a semi-annual dividend of $4.4656 per share, reflecting a yield increase to 350.0%, with the payout ratio currently at 81.74%.

Maryland State Retirement & Pension System lessened its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,950 shares of the transportation company's stock after selling 1,726 shares during the period. Maryland State Retirement & Pension System owned 0.10% of Grupo Aeroportuario Del Pacifico worth $9,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PAC. Price T Rowe Associates Inc. MD raised its holdings in Grupo Aeroportuario Del Pacifico by 22.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,056,454 shares of the transportation company's stock worth $184,870,000 after purchasing an additional 190,955 shares in the last quarter. Deutsche Bank AG raised its holdings in Grupo Aeroportuario Del Pacifico by 7.2% during the first quarter. Deutsche Bank AG now owns 813,007 shares of the transportation company's stock worth $150,821,000 after purchasing an additional 54,495 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Grupo Aeroportuario Del Pacifico by 4.1% during the fourth quarter. Lazard Asset Management LLC now owns 665,506 shares of the transportation company's stock worth $116,455,000 after purchasing an additional 25,918 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Grupo Aeroportuario Del Pacifico by 31.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 174,266 shares of the transportation company's stock worth $30,495,000 after purchasing an additional 41,266 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Grupo Aeroportuario Del Pacifico by 1,688.3% during the fourth quarter. Northern Trust Corp now owns 75,536 shares of the transportation company's stock worth $13,218,000 after purchasing an additional 71,312 shares in the last quarter. Institutional investors own 11.73% of the company's stock.

Grupo Aeroportuario Del Pacifico Trading Down 0.4%

NYSE PAC traded down $0.99 on Friday, hitting $241.06. 35,763 shares of the stock were exchanged, compared to its average volume of 83,890. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 52-week low of $151.65 and a 52-week high of $244.01. 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 company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 2.94 and a beta of 1.14. The company's 50-day moving average price is $229.33 and its two-hundred day moving average price is $208.48.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The transportation company reported $2.70 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $10.86 billion. Research 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 company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th will be given a dividend of $4.4656 per share. This represents a yield of 350.0%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. Grupo Aeroportuario Del Pacifico's dividend payout ratio is presently 40.25%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAC. Scotiabank raised Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised Grupo Aeroportuario Del Pacifico from an "underweight" rating to a "neutral" rating in a report on Friday, May 23rd. Bank of America cut Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a report on Thursday, June 12th. Finally, Wall Street Zen cut Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Grupo Aeroportuario Del Pacifico has an average rating of "Hold" and an average target price of $200.00.

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.