Kanawha Capital Management LLC Acquires 589 Shares of Philip Morris International Inc. (NYSE:PM)

Kanawha Capital Management LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 8.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,984 shares of the company’s stock after buying an additional 589 shares during the quarter. Kanawha Capital Management LLC’s holdings in Philip Morris International were worth $1,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock worth $16,780,688,000 after acquiring an additional 1,167,810 shares during the last quarter. Capital World Investors grew its position in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. GQG Partners LLC grew its position in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after acquiring an additional 6,092,558 shares during the last quarter. Geode Capital Management LLC increased its holdings in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock valued at $2,079,262,000 after purchasing an additional 516,617 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PM. Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Citigroup increased their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Trading Down 2.5%

Shares of PM opened at $177.55 on Wednesday. The firm’s fifty day simple moving average is $176.63 and its two-hundred day simple moving average is $153.71. Philip Morris International Inc. has a 12 month low of $100.80 and a 12 month high of $186.69. The stock has a market capitalization of $276.36 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 2.64 and a beta of 0.51.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s payout ratio is 111.34%.

About Philip Morris International

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.