Burgundy Asset Management Ltd. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,704,651 shares of the company’s stock after selling 407,447 shares during the quarter. Philip Morris International comprises about 2.8% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 9th largest holding. Burgundy Asset Management Ltd.’s holdings in Philip Morris International were worth $300,243,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its position in Philip Morris International by 424.8% during the third quarter. Chicago Partners Investment Group LLC now owns 2,624 shares of the company’s stock worth $291,000 after acquiring an additional 2,124 shares during the period. Institutional & Family Asset Management LLC increased its position in Philip Morris International by 8.2% during the third quarter. Institutional & Family Asset Management LLC now owns 13,723 shares of the company’s stock worth $1,523,000 after acquiring an additional 1,042 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Philip Morris International in the 3rd quarter valued at about $3,009,000. GSA Capital Partners LLP increased its holdings in Philip Morris International by 170.2% in the 3rd quarter. GSA Capital Partners LLP now owns 28,151 shares of the company’s stock valued at $3,125,000 after buying an additional 17,734 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in Philip Morris International by 71.7% in the 3rd quarter. Moors & Cabot Inc. now owns 26,090 shares of the company’s stock valued at $2,898,000 after buying an additional 10,893 shares during the period. 72.38% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on PM. Jefferies Group decreased their target price on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, October 12th. Piper Jaffray Companies set a $135.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Sunday, October 15th. Wells Fargo & Co reissued an “outperform” rating and issued a $140.00 target price on shares of Philip Morris International in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Finally, Morgan Stanley raised their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $125.14.
Shares of Philip Morris International Inc. (PM) opened at $98.69 on Tuesday. The stock has a market cap of $153,290.00, a P/E ratio of 21.79, a P/E/G ratio of 2.02 and a beta of 0.85. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International Inc. has a 1-year low of $98.51 and a 1-year high of $123.55.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Thursday, December 21st were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Wednesday, December 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 94.48%.
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Philip Morris International Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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