The tobacco industry is in the midst of a major transformation, and Philip Morris International (NYSE: PM) has led the surge away from traditional cigarettes toward reduced-risk products like its iQOS heated tobacco platform. Only some of that impact will come from currencies, with the company expecting a $0.17 per share overall hit from the strong US dollar. Insiders own 0.23% of the company's stock.
Several other hedge funds have also recently added to or reduced their stakes in the company. USA Mutuals Advisors Inc. now owns 102,500 shares of the company's stock worth $11,572,000 after acquiring an additional 2,500 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Philip Morris International by 2.7% during the second quarter. The volume of the company in the last trading session was 6.92 Million. Mountain Capital Investment Advisors Inc acquired a new position in shares of Philip Morris International in the 2nd quarter valued at about $145,000. Schmidt P J Investment Management Inc. now owns 49,641 shares of the company's stock valued at $5,604,000 after purchasing an additional 131 shares in the last quarter. Capital Guardian Trust stated it has 1.52% of its portfolio in Philip Morris International Inc.
Now insiders hold 6,521,478 shares in the business which makes up 0.42% of shares. State Street Corp grew its stake in Philip Morris International by 1.8% in the 1st quarter. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. It worsened, as 53 investors sold PM shares while 558 reduced holdings. Goldman Sachs has "Neutral" rating and $101 target. (The) assumed coverage on shares of Philip Morris International in a research report on Monday, October 2nd. That's right - they think these 10 stocks are even better buys. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. The company now has a consensus rating of "Buy" and an average price target of $126.00.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business's stock in a transaction dated Wednesday, August 30th. Earnings per share and revenue for the third quarter of 2016 were $1.25 and $6.98 billion, respectively. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Philip Morris International Inc (NYSE PM) opened at 112.51 on Thursday. The 50 day moving average was down $-1.87 or -1.63% and the 200 day average was down $-3.27. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. (PM) failed to surprise the stock market in its last reported earnings when it earned $1.14 a piece versus the consensus-estimated $1.23. In the last earnings report the EPS was $4.51 and is projected to be $4.84 for the current year with 1,553,188,000 shares now outstanding. Cowen & Co maintained Philip Morris International Inc. Revenue net of excise taxes came in at $7.47 billion, up 7% from the year-ago quarter but still well short of the double-digit percentage growth that those following the stock were expecting.
The company cut its full-year reported diluted EPS forecast to a range of $4.75 to $4.80, down from its previous range of $4.78 to $4.93 that it had issued in July. The business's quarterly revenue was up 4.0% compared to the same quarter past year.
Motco decreased its stake in Philip Morris International Inc (PM) by 96.84% based on its latest 2017Q2 regulatory filing with the SEC.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a $1.07 dividend. The ex-dividend date was Tuesday, September 26th. Philip Morris International had 40 analyst reports since August 24, 2015 according to SRatingsIntel. This represents a $4.28 annualized dividend and a yield of 3.80%. The firm owned 133,305 shares of the company's stock after selling 18,892 shares during the period. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and global trademark and copyright legislation. The legal version of this story can be accessed at https://stocknewstimes.com/2017/10/19/amerigo-asset-management-purchases-shares-of-1780000-philip-morris-international-inc-pm.html.
Breaking down Philip Morris International Inc. cigarette and heated tobacco unit shipment volume by region paints an ugly picture for the company. Yet on the bottom line, there were clear winners and losers, as segment operating company income soared 40% in Asia and by almost a fifth in the Western Hemisphere, offsetting a 20% drop in the Eastern Europe, Middle East, and Africa segment.
Want to see what other hedge funds are holding PM?