Mackenzie Financial Corp Boosts Position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

Mackenzie Financial Corp raised its position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) by 5.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,614 shares of the transportation company’s stock after acquiring an additional 3,754 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Grupo Aeroportuario del Pacífico worth $11,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PAC. Lazard Asset Management LLC increased its position in shares of Grupo Aeroportuario del Pacífico by 141.5% during the 1st quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock valued at $78,526,000 after purchasing an additional 281,966 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Grupo Aeroportuario del Pacífico in the second quarter worth approximately $13,976,000. Northcape Capital Pty Ltd boosted its stake in shares of Grupo Aeroportuario del Pacífico by 67.9% during the 1st quarter. Northcape Capital Pty Ltd now owns 162,439 shares of the transportation company’s stock worth $26,505,000 after acquiring an additional 65,681 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Grupo Aeroportuario del Pacífico during the 1st quarter valued at $2,676,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Grupo Aeroportuario del Pacífico in the 1st quarter worth $1,485,000. 11.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup upgraded Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America upgraded Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 28th. Scotiabank cut shares of Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $224.00 to $185.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $195.00.

Grupo Aeroportuario del Pacífico Stock Performance

NYSE:PAC opened at $174.02 on Tuesday. The stock has a 50-day moving average price of $167.29 and a 200 day moving average price of $168.44. The stock has a market capitalization of $8.79 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.70 and a beta of 1.47. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has a 12-month low of $107.25 and a 12-month high of $197.31. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.56.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last announced its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.46). The company had revenue of $421.54 million for the quarter. Grupo Aeroportuario del Pacífico had a net margin of 29.26% and a return on equity of 47.50%. Equities research analysts forecast that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 9.88 EPS for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $3.8657 dividend. This is an increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. This represents a yield of 4.7%. The ex-dividend date of this dividend was Monday, July 22nd. Grupo Aeroportuario del Pacífico’s payout ratio is currently 33.84%.

Grupo Aeroportuario del Pacífico 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.