Teachers Retirement System of The State of Kentucky Has $44.18 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.5% in the 1st quarter, HoldingsChannel reports. The fund owned 278,302 shares of the company’s stock after selling 13,190 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Philip Morris International were worth $44,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Proficio Capital Partners LLC raised its position in Philip Morris International by 60.4% during the fourth quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company’s stock valued at $465,000 after purchasing an additional 1,455 shares in the last quarter. HUB Investment Partners LLC raised its position in Philip Morris International by 3.4% during the fourth quarter. HUB Investment Partners LLC now owns 5,054 shares of the company’s stock valued at $608,000 after purchasing an additional 165 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Philip Morris International during the fourth quarter valued at approximately $235,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PM. UBS Group set a $181.00 price objective on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Monday, July 14th. Needham & Company LLC started coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a “buy” rating for the company. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.73.

Philip Morris International Stock Down 0.2%

NYSE PM opened at $178.75 on Friday. The company has a market capitalization of $278.23 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.56 and a beta of 0.51. Philip Morris International Inc. has a twelve month low of $106.76 and a twelve month high of $186.69. The stock has a fifty day simple moving average of $178.83 and a 200 day simple moving average of $158.83.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. Philip Morris International’s payout ratio is 111.34%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.