Northcape Capital Pty Ltd Trims Stock Position in Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• Northcape Capital reduced its Grupo Aeroportuario del Pacífico stake by 9.1% in the second quarter, selling 17,438 shares and retaining 173,611 shares worth approximately $43.95 million. PAC remains about 5.9% of the firm’s portfolio and its sixth-largest holding.
• PAC shares opened at $215.86, well below their 52-week high of $300.41. The company’s latest quarterly results missed expectations, reporting $2.80 in EPS versus $3.10 expected and revenue of $645.23 million versus $732.26 million forecast.
• Analyst sentiment remains moderately positive, with four Buy and four Hold ratings and a consensus price target of $250. Recent actions included upgrades from Citigroup and Morgan Stanley, while Goldman Sachs lowered its target to $275 but maintained a Buy rating.

Northcape Capital Pty Ltd decreased its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,611 shares of the transportation company's stock after selling 17,438 shares during the quarter. Grupo Aeroportuario Del Pacifico comprises approximately 5.9% of Northcape Capital Pty Ltd's investment portfolio, making the stock its 6th biggest holding. Northcape Capital Pty Ltd owned about 0.34% of Grupo Aeroportuario Del Pacifico worth $43,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Militia Capital Management LLC acquired a new position in Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $839,000. NewEdge Advisors LLC boosted its stake in Grupo Aeroportuario Del Pacifico by 12.4% in the first quarter. NewEdge Advisors LLC now owns 1,222 shares of the transportation company's stock valued at $302,000 after acquiring an additional 135 shares during the last quarter. Bank of America Corp DE grew its holdings in Grupo Aeroportuario Del Pacifico by 185.0% during the 1st quarter. Bank of America Corp DE now owns 83,866 shares of the transportation company's stock worth $20,704,000 after acquiring an additional 54,439 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Grupo Aeroportuario Del Pacifico by 50.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 247 shares of the transportation company's stock worth $61,000 after acquiring an additional 83 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Grupo Aeroportuario Del Pacifico by 148.1% during the 1st quarter. Empowered Funds LLC now owns 74,607 shares of the transportation company's stock valued at $18,418,000 after acquiring an additional 44,531 shares during the last quarter. 11.73% of the stock is owned by institutional investors.

Grupo Aeroportuario Del Pacifico Stock Performance

PAC stock opened at $215.86 on Tuesday. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 1-year low of $206.91 and a 1-year high of $300.41. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The firm has a market cap of $10.91 billion, a PE ratio of 19.17, a P/E/G ratio of 1.58 and a beta of 0.94. The business's 50-day moving average price is $233.43 and its two-hundred day moving average price is $247.76.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last announced its quarterly earnings results on Monday, July 13th. The transportation company reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.30). The business had revenue of $645.23 million during the quarter, compared to the consensus estimate of $732.26 million. Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%. As a group, research analysts forecast that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAC. Citigroup raised Grupo Aeroportuario Del Pacifico from a "neutral" rating to a "buy" rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Wednesday, June 3rd. Morgan Stanley upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $210.00 to $225.00 in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group cut their target price on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $250.00.

Grupo Aeroportuario Del Pacifico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a leading airport operator in Mexico. Established in 1998 as part of the federal government’s airport privatization program, GAP holds long‐term concession agreements—typically 50 years—to manage, develop and operate airports under a public–private partnership model. Through these concessions, the company undertakes terminal expansions, runway maintenance and the modernization of navigation and security systems.

The company’s portfolio comprises 12 airports across Mexico’s Pacific and western regions, including major hubs such as Guadalajara, Tijuana, Los Cabos, Puerto Vallarta and Mazatlán, as well as regional facilities in Aguascalientes, Morelia and La Paz.

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