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

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 lifted its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 18.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,399 shares of the transportation company's stock after purchasing 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PAC. LPL Financial LLC purchased a new stake in shares of Grupo Aeroportuario Del Pacifico during the fourth quarter worth about $470,000. Geode Capital Management LLC grew its stake in Grupo Aeroportuario Del Pacifico by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 2,615 shares of the transportation company's stock valued at $458,000 after acquiring an additional 150 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Grupo Aeroportuario Del Pacifico by 21.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 8,018 shares of the transportation company's stock valued at $1,403,000 after acquiring an additional 1,436 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Grupo Aeroportuario Del Pacifico during the 4th quarter valued at about $875,000. Finally, Barclays PLC purchased a new stake in Grupo Aeroportuario Del Pacifico during the 4th quarter valued at about $483,000. Hedge funds and other institutional investors own 11.73% of the company's stock.

Analyst Ratings Changes

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

Grupo Aeroportuario Del Pacifico Trading Down 0.1%

Shares of Grupo Aeroportuario Del Pacifico stock traded down $0.2590 during mid-day trading on Friday, hitting $247.1910. The stock had a trading volume of 61,770 shares, compared to its average volume of 75,678. The firm has a 50-day moving average of $232.12 and a two-hundred day moving average of $212.81. 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 $156.48 and a 12-month high of $256.22. The firm has a market cap of $12.49 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The transportation company reported $2.70 EPS 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 company had revenue of $584.36 million during the quarter, compared to analyst estimates of $10.86 billion. Sell-side analysts forecast that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 10 earnings per share for the current year.

Grupo Aeroportuario Del Pacifico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $4.4656 per share. This is a boost from Grupo Aeroportuario Del Pacifico's previous semi-annual dividend of $4.32. The ex-dividend date is Wednesday, August 13th. This represents a yield of 350.0%. Grupo Aeroportuario Del Pacifico's dividend payout ratio (DPR) is currently 81.95%.

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.