Coho Partners Ltd. Sells 133,002 Shares of Philip Morris International Inc. $PM

Coho Partners Ltd. lowered its position in Philip Morris International Inc. (NYSE:PM) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,591 shares of the company’s stock after selling 133,002 shares during the period. Philip Morris International comprises 3.5% of Coho Partners Ltd.’s holdings, making the stock its 14th largest position. Coho Partners Ltd.’s holdings in Philip Morris International were worth $47,643,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PM. WCM Investment Management LLC increased its holdings in shares of Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after acquiring an additional 11,230,626 shares in the last quarter. Nuveen LLC bought a new stake in Philip Morris International during the 1st quarter worth approximately $1,712,994,000. Wellington Management Group LLP increased its stake in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Philip Morris International by 22.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 1.2%

Philip Morris International stock opened at $155.82 on Friday. The company has a market cap of $242.55 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The company has a fifty day simple moving average of $163.64 and a 200 day simple moving average of $168.73.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s dividend payout ratio is 111.79%.

Analyst Upgrades and Downgrades

PM has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $195.44.

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.