Cherokee Insurance Co Invests $1.26 Million in Philip Morris International Inc. $PM

Cherokee Insurance Co acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,900 shares of the company’s stock, valued at approximately $1,257,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its stake 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 valued at $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC purchased a new position in Philip Morris International during the 1st quarter valued at about $1,712,994,000. Wellington Management Group LLP grew its position in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring 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 first 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 during the period. Finally, AQR Capital Management LLC increased its stake in Philip Morris International by 111.1% during the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after purchasing an additional 1,580,368 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $155.55 on Thursday. The business has a 50-day moving average of $157.70 and a two-hundred day moving average of $168.09. The company has a market capitalization of $242.14 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.27 and a beta of 0.43. 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 business 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, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

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.