Philip Morris International Inc. (NYSE:PM) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 27.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,380 shares of the company’s stock after selling 29,516 shares during the quarter. Channing Capital Management LLC’s holdings in Philip Morris International were worth $5,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Philip Morris International by 2.3% during the first quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock worth $7,068,378,000 after buying an additional 2,144,926 shares during the last quarter. Capital World Investors grew its holdings in shares of Philip Morris International by 25.6% during the fourth quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock worth $6,244,717,000 after buying an additional 14,952,837 shares during the last quarter. State Street Corp grew its holdings in shares of Philip Morris International by 1.1% during the first quarter. State Street Corp now owns 61,136,786 shares of the company’s stock worth $4,531,459,000 after buying an additional 661,043 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Philip Morris International by 2.0% during the fourth quarter. Capital Research Global Investors now owns 39,525,390 shares of the company’s stock worth $3,363,216,000 after buying an additional 793,836 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Philip Morris International by 2.5% during the fourth quarter. Capital International Investors now owns 36,680,609 shares of the company’s stock worth $3,121,153,000 after buying an additional 879,917 shares during the last quarter. 74.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PM stock traded up $0.08 during mid-day trading on Tuesday, hitting $73.87. 990,658 shares of the company’s stock were exchanged, compared to its average volume of 5,070,854. The stock has a market cap of $114.23 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.27 and a beta of 0.77. The stock has a 50-day simple moving average of $72.72 and a two-hundred day simple moving average of $80.17. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The firm had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same period last year, the company earned $1.09 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 4.89 EPS for the current year.

A number of research firms recently issued reports on PM. Morgan Stanley lowered their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Friday, April 3rd. Goldman Sachs Group started coverage on shares of Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price target for the company. Finally, Citigroup reduced their price target on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $91.14.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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