The Manufacturers Life Insurance Company Reduces Stock Position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

The Manufacturers Life Insurance Company reduced its position in shares of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) by 6.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,229 shares of the transportation company’s stock after selling 528 shares during the period. The Manufacturers Life Insurance Company’s holdings in Grupo Aeroportuario del Pacífico were worth $1,282,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 141.5% during the first quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock worth $78,526,000 after purchasing an additional 281,966 shares during the period. Northcape Capital Pty Ltd boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 67.9% during the first quarter. Northcape Capital Pty Ltd now owns 162,439 shares of the transportation company’s stock worth $26,505,000 after purchasing an additional 65,681 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 138,103 shares of the transportation company’s stock worth $21,515,000 after purchasing an additional 5,481 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 3.0% during the first quarter. Russell Investments Group Ltd. now owns 101,851 shares of the transportation company’s stock worth $16,619,000 after purchasing an additional 2,941 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Grupo Aeroportuario del Pacífico during the second quarter worth about $13,976,000. 11.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a report on Thursday, September 5th. Citigroup raised shares of Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group increased their price target 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. Bank of America raised shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, Scotiabank downgraded shares of Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $224.00 to $185.00 in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Grupo Aeroportuario del Pacífico Stock Performance

Shares of NYSE PAC opened at $173.04 on Friday. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has a fifty-two week low of $107.25 and a fifty-two week high of $197.31. The company has a 50 day simple moving average of $169.92 and a two-hundred day simple moving average of $169.59. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.59 and a beta of 1.46.

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

Grupo Aeroportuario del Pacífico 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.