Short Interest in Philip Morris International Inc. (NYSE:PM) Declines By 22.5%

Philip Morris International Inc. (NYSE:PM) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 13,280,000 shares, a drop of 22.5% from the February 28th total of 17,140,000 shares. Based on an average daily trading volume, of 5,950,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.9% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Barclays raised their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Trading Down 1.2 %

Shares of PM stock traded down $1.85 during midday trading on Wednesday, reaching $156.24. 2,345,803 shares of the stock were exchanged, compared to its average volume of 5,467,843. Philip Morris International has a 1 year low of $87.82 and a 1 year high of $159.51. The firm has a market cap of $242.93 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The company’s 50 day moving average is $147.25 and its two-hundred day moving average is $132.66.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, equities analysts expect that Philip Morris International will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares of the company’s stock, valued at $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock worth $19,655,585. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Hedge funds have recently added to or reduced their stakes in the stock. Range Financial Group LLC grew its position in Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after buying an additional 19,127 shares during the period. Park Avenue Securities LLC grew its position in shares of Philip Morris International by 18.9% during the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after acquiring an additional 16,035 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Philip Morris International by 37.5% in the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Philip Morris International by 50.9% in the 4th quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock worth $6,485,000 after purchasing an additional 18,183 shares during the period. Finally, Czech National Bank lifted its position in Philip Morris International by 6.4% during the fourth quarter. Czech National Bank now owns 337,119 shares of the company’s stock valued at $40,572,000 after purchasing an additional 20,390 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Company 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.