Philip Morris International Inc. (NYSE:PM) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,350,937 shares of the company’s stock after selling 85,578 shares during the quarter. Principal Financial Group Inc.’s holdings in Philip Morris International were worth $164,707,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PM. Capital World Investors increased its holdings in shares of Philip Morris International by 24.0% in the first quarter. Capital World Investors now owns 90,972,989 shares of the company’s stock valued at $6,637,389,000 after buying an additional 17,583,436 shares in the last quarter. Capital International Investors raised its stake in Philip Morris International by 19.9% during the 1st quarter. Capital International Investors now owns 43,979,756 shares of the company’s stock valued at $3,208,763,000 after purchasing an additional 7,299,147 shares during the period. Morgan Stanley grew its holdings in shares of Philip Morris International by 8.4% during the 1st quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock valued at $3,090,983,000 after acquiring an additional 3,285,330 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Philip Morris International by 164.9% in the first quarter. Franklin Resources Inc. now owns 4,912,575 shares of the company’s stock worth $358,421,000 after purchasing an additional 3,057,886 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Philip Morris International by 10.3% in the first quarter. Wellington Management Group LLP now owns 23,576,019 shares of the company’s stock worth $1,720,107,000 after purchasing an additional 2,198,897 shares in the last quarter. 74.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on PM. Piper Sandler reissued a “buy” rating and set a $98.00 target price on shares of Philip Morris International in a research report on Tuesday, August 4th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. UBS Group increased their price target on shares of Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Citigroup reaffirmed a “hold” rating and set a $75.00 price objective on shares of Philip Morris International in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $89.07.

PM opened at $77.71 on Friday. Philip Morris International Inc. has a one year low of $56.01 and a one year high of $90.17. The company’s 50 day simple moving average is $74.54 and its 200-day simple moving average is $76.09. The stock has a market capitalization of $121.02 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.19. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. Philip Morris International’s revenue was down 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 5.02 EPS for the current fiscal year.

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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