Victory Capital Management Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 47.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,065 shares of the company’s stock after selling 105,030 shares during the period. Victory Capital Management Inc.’s holdings in Philip Morris International were worth $12,884,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Crossmark Global Holdings Inc. purchased a new stake in shares of Philip Morris International in the third quarter worth $2,591,000. SPC Financial Inc. purchased a new stake in shares of Philip Morris International in the third quarter worth $214,000. Alley Co LLC increased its stake in shares of Philip Morris International by 1.1% in the third quarter. Alley Co LLC now owns 63,655 shares of the company’s stock worth $7,066,000 after purchasing an additional 688 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Philip Morris International in the third quarter worth $317,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Philip Morris International by 8.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 378,822 shares of the company’s stock worth $42,054,000 after acquiring an additional 30,299 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on PM shares. Cowen restated a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a research report on Thursday, September 28th. Jefferies Group restated a “hold” rating and issued a $120.00 target price on shares of Philip Morris International in a report on Thursday, September 28th. Wells Fargo & Co restated an “outperform” rating and issued a $140.00 target price on shares of Philip Morris International in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $135.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Sunday, October 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $124.23.
Shares of Philip Morris International Inc. (PM) opened at $104.86 on Friday. Philip Morris International Inc. has a 1-year low of $89.97 and a 1-year high of $123.55. The company has a market cap of $162,870.00, a price-to-earnings ratio of 23.15, a P/E/G ratio of 1.88 and a beta of 0.89. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. analysts expect that Philip Morris International Inc. will post 4.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 4.08%. Philip Morris International’s payout ratio is 94.48%.
WARNING: “Victory Capital Management Inc. Sells 105,030 Shares of Philip Morris International Inc. (NYSE:PM)” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://stocknewstimes.com/2018/01/12/victory-capital-management-inc-has-12-88-million-holdings-in-philip-morris-international-inc-pm.html.
About Philip Morris International
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.