American Century Companies Inc. lowered its stake in Philip Morris International Inc (NYSE:PM) by 10.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,924,069 shares of the company’s stock after selling 340,386 shares during the period. American Century Companies Inc. owned about 0.19% of Philip Morris International worth $330,127,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Philip Morris International during the fourth quarter valued at approximately $351,755,000. C WorldWide Group Holding A S raised its stake in Philip Morris International by 70.9% in the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after buying an additional 1,255,776 shares during the last quarter. Franklin Resources Inc. raised its stake in Philip Morris International by 16.5% in the fourth quarter. Franklin Resources Inc. now owns 8,753,376 shares of the company’s stock valued at $800,847,000 after buying an additional 1,240,300 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Philip Morris International by 42.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock valued at $236,086,000 after buying an additional 618,100 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in Philip Morris International by 31.8% in the fourth quarter. Janus Capital Management LLC now owns 2,066,809 shares of the company’s stock valued at $189,092,000 after buying an additional 498,361 shares during the last quarter. Institutional investors and hedge funds own 72.30% of the company’s stock.
Philip Morris International Inc (NYSE:PM) traded down 1.53% during mid-day trading on Thursday, hitting $115.93. The stock had a trading volume of 3,269,040 shares. The company has a 50 day moving average price of $117.34 and a 200-day moving average price of $113.49. The company has a market cap of $180.06 billion, a price-to-earnings ratio of 25.69 and a beta of 0.93. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the prior year, the business posted $1.15 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “American Century Companies Inc. Lowers Position in Philip Morris International Inc (NYSE:PM)” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/08/17/american-century-companies-inc-reduces-position-in-philip-morris-international-inc-nysepm-updated-updated-updated.html.
Several research firms have recently commented on PM. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and lifted their price target for the company from $118.00 to $119.00 in a research report on Friday, August 11th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. BidaskClub lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Bank of America Corporation lifted their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC boosted their target price on Philip Morris International from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, May 22nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and a consensus price target of $121.79.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
Receive News & Ratings for Philip Morris International Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc and related companies with MarketBeat.com's FREE daily email newsletter.
