Philip Morris International Inc. (NYSE:PM) Holdings Cut by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,034 shares of the company’s stock after selling 4,107 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Philip Morris International were worth $5,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Valley Wealth Managers Inc. boosted its stake in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Empowered Funds LLC raised its holdings in shares of Philip Morris International by 0.9% during the third quarter. Empowered Funds LLC now owns 117,443 shares of the company’s stock valued at $14,258,000 after buying an additional 1,008 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Philip Morris International by 2.2% during the third quarter. Empirical Finance LLC now owns 53,528 shares of the company’s stock worth $6,498,000 after buying an additional 1,136 shares during the period. Signature Estate & Investment Advisors LLC grew its holdings in Philip Morris International by 3.6% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 11,680 shares of the company’s stock worth $1,418,000 after buying an additional 407 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Philip Morris International by 19.8% in the 3rd quarter. CIBC Asset Management Inc now owns 347,028 shares of the company’s stock valued at $42,126,000 after acquiring an additional 57,446 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM opened at $128.59 on Friday. The firm’s 50 day moving average price is $124.30 and its two-hundred day moving average price is $113.44. The stock has a market cap of $199.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. On average, research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is currently 85.71%.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.85.

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.