State of New Jersey Common Pension Fund D Purchases 3,705 Shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in Grupo Aeroportuario Del Pacifico by 18.8%, owning 23,399 shares worth approximately $4.34 million as of the end of the last quarter.
• JPMorgan upgraded Grupo Aeroportuario Del Pacifico from "underweight" to "neutral," while Wall Street Zen downgraded it from "buy" to "hold", resulting in a current consensus rating of "Moderate Buy".
• Grupo Aeroportuario Del Pacifico declared a semi-annual dividend of $4.4656 per share, reflecting a significant yield increase of 350% from the previous dividend.

State of New Jersey Common Pension Fund D grew its position in Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,399 shares of the transportation company's stock after buying an additional 3,705 shares during the period. State of New Jersey Common Pension Fund D's holdings in Grupo Aeroportuario Del Pacifico were worth $4,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Grupo Aeroportuario Del Pacifico by 6.2% in the 1st quarter. American Century Companies Inc. now owns 48,903 shares of the transportation company's stock valued at $9,072,000 after buying an additional 2,870 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Grupo Aeroportuario Del Pacifico in the 1st quarter valued at $54,000. Russell Investments Group Ltd. increased its stake in shares of Grupo Aeroportuario Del Pacifico by 10.5% in the 1st quarter. Russell Investments Group Ltd. now owns 100,263 shares of the transportation company's stock valued at $18,600,000 after buying an additional 9,531 shares during the period. Nuveen LLC acquired a new stake in shares of Grupo Aeroportuario Del Pacifico in the 1st quarter valued at $35,349,000. Finally, Virtu Financial LLC acquired a new stake in shares of Grupo Aeroportuario Del Pacifico in the 1st quarter valued at $337,000. 11.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAC has been the topic of several recent research reports. Wall Street Zen lowered Grupo Aeroportuario Del Pacifico from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Scotiabank upgraded Grupo Aeroportuario Del Pacifico from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 19th. Bank of America lowered Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "underperform" rating in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to a "neutral" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Grupo Aeroportuario Del Pacifico presently has an average rating of "Moderate Buy" and an average target price of $200.00.

Grupo Aeroportuario Del Pacifico Trading Down 1.3%

PAC stock traded down $3.2930 during midday trading on Monday, hitting $243.6970. 36,158 shares of the company's stock were exchanged, compared to its average volume of 75,437. The stock's fifty day moving average price is $232.44 and its 200-day moving average price is $213.37. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $12.31 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a one year low of $156.48 and a one year high of $256.22.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last posted its earnings results 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). The business had revenue of $584.36 million for the quarter, compared to the consensus estimate of $10.86 billion. Grupo Aeroportuario Del Pacifico had a return on equity of 39.81% and a net margin of 24.28%. Research analysts predict 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 company also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th will be issued a $4.4656 dividend. This represents a dividend yield of 350.0%. This is a positive change from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. The ex-dividend date is Wednesday, August 13th. Grupo Aeroportuario Del Pacifico's dividend payout ratio is presently 81.85%.

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.