Altria Group, Inc. (NYSE:MO) Shares Sold by Canal Capital Management LLC

Canal Capital Management LLC cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,783 shares of the company’s stock after selling 18,827 shares during the quarter. Altria Group makes up approximately 2.3% of Canal Capital Management LLC’s portfolio, making the stock its 8th biggest position. Canal Capital Management LLC’s holdings in Altria Group were worth $14,535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MO. BNP Paribas acquired a new position in Altria Group in the first quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new stake in Altria Group in the second quarter worth approximately $30,000. Valley Wealth Managers Inc. boosted its holdings in shares of Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $44,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.1 %

MO stock opened at $49.99 on Friday. The firm has a market cap of $85.29 billion, a PE ratio of 8.61, a P/E/G ratio of 2.89 and a beta of 0.65. The business has a 50 day moving average of $51.46 and a 200-day moving average of $47.95. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. On average, research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 8.16%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is presently 70.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup raised their price target on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays raised their price objective on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. UBS Group increased their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Bank of America decreased their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average price target of $48.20.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.