MIG Capital LLC Has $40.08 Million Holdings in Philip Morris International Inc. (NYSE:PM)

MIG Capital LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 96.1% during the 3rd quarter, Holdings Channel reports. The fund owned 330,142 shares of the company’s stock after buying an additional 161,759 shares during the period. Philip Morris International comprises about 4.9% of MIG Capital LLC’s portfolio, making the stock its 9th largest position. MIG Capital LLC’s holdings in Philip Morris International were worth $40,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Philip Morris International by 7.4% during the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after buying an additional 736,961 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after buying an additional 469,806 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in shares of Philip Morris International by 0.9% in the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock worth $959,368,000 after buying an additional 86,667 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.3 %

PM opened at $131.82 on Thursday. The company has a market cap of $204.96 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.29 and a beta of 0.54. The firm’s fifty day simple moving average is $125.26 and its two-hundred day simple moving average is $115.42. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

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

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’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 of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PM shares. 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 research report on Wednesday, October 23rd. Bank of America increased their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.50.

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.