Renasant Bank Lowers Stock Position in Philip Morris International Inc. $PM

Renasant Bank decreased its position in Philip Morris International Inc. (NYSE:PM) by 32.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,350 shares of the company’s stock after selling 644 shares during the period. Renasant Bank’s holdings in Philip Morris International were worth $246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its position in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of 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 acquiring an additional 91 shares during the last quarter. Capstone Wealth Management Group LLC acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $238,000. CWM LLC raised its stake in Philip Morris International by 16.7% in the 1st quarter. CWM LLC now owns 74,865 shares of the company’s stock valued at $11,883,000 after purchasing an additional 10,699 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in Philip Morris International by 123.9% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,345 shares of the company’s stock valued at $848,000 after purchasing an additional 2,958 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. KGI Securities assumed coverage on Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $156.93 on Wednesday. The company has a market capitalization of $244.28 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.25 and a beta of 0.43. The company has a 50 day simple moving average of $157.85 and a 200-day simple moving average of $168.18. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

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.