Deprince Race & Zollo Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,711 shares of the company’s stock after selling 52,450 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Philip Morris International were worth $17,730,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Doliver Capital Advisors LP raised its stake in Philip Morris International by 8.1% in the 3rd quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock valued at $3,303,000 after acquiring an additional 2,242 shares during the period. Hourglass Capital LLC raised its stake in Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after acquiring an additional 650 shares during the period. WFG Advisors LP raised its stake in Philip Morris International by 30.1% in the 2nd quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock valued at $1,498,000 after acquiring an additional 2,951 shares during the period. Wedbush Securities Inc. raised its stake in Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock valued at $2,212,000 after acquiring an additional 4,123 shares during the period. Finally, Swiss National Bank raised its stake in Philip Morris International by 1.0% in the 3rd quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock valued at $661,401,000 after acquiring an additional 58,900 shares during the period. 72.36% of the stock is owned by institutional investors.
A number of research firms recently weighed in on PM. Jefferies Group dropped their price target on Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, October 12th. Piper Jaffray Companies set a $135.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Sunday, October 15th. Wells Fargo & Co restated an “outperform” rating and issued a $140.00 price target on shares of Philip Morris International in a research note on Tuesday, October 10th. Cowen restated a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Finally, Goldman Sachs Group upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Philip Morris International currently has a consensus rating of “Hold” and a consensus price target of $124.23.
Philip Morris International Inc. (NYSE PM) opened at $105.63 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. The firm has a market capitalization of $164,060.00, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. Philip Morris International Inc. has a 12-month low of $89.97 and a 12-month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data 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 the consensus estimate of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. sell-side analysts forecast that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.05%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s payout ratio is 94.48%.
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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.
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