Stone Ridge Asset Management LLC Takes Position in Altria Group Inc (MO)

Share on StockTwits

Stone Ridge Asset Management LLC acquired a new position in shares of Altria Group Inc (NYSE:MO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,914 shares of the company’s stock, valued at approximately $1,020,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pekin Singer Strauss Asset Management IL lifted its position in shares of Altria Group by 9.9% during the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock valued at $540,000 after acquiring an additional 859 shares during the last quarter. Burney Co. lifted its position in shares of Altria Group by 4.0% during the 2nd quarter. Burney Co. now owns 22,348 shares of the company’s stock valued at $1,269,000 after acquiring an additional 859 shares during the last quarter. Reliance Trust Co. of Delaware lifted its position in shares of Altria Group by 1.3% during the 3rd quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock valued at $3,958,000 after acquiring an additional 871 shares during the last quarter. Cpwm LLC lifted its position in shares of Altria Group by 23.9% during the 2nd quarter. Cpwm LLC now owns 4,527 shares of the company’s stock valued at $257,000 after acquiring an additional 874 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of Altria Group by 3.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock valued at $1,323,000 after acquiring an additional 878 shares during the last quarter. Institutional investors and hedge funds own 63.37% of the company’s stock.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Shares of NYSE:MO opened at $56.78 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.60. Altria Group Inc has a 12-month low of $53.91 and a 12-month high of $74.38. The firm has a market cap of $111.05 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.68 and a beta of 0.40.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. On average, sell-side analysts forecast that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the company. ValuEngine downgraded Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Wells Fargo & Co reiterated an “outperform” rating on shares of Altria Group in a research report on Monday, November 12th. Citigroup increased their price objective on Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research report on Friday, September 21st. Finally, Argus increased their price objective on Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $69.87.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by Week Herald and is owned by of Week Herald. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://weekherald.com/2018/11/17/stone-ridge-asset-management-llc-takes-position-in-altria-group-inc-mo.html.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

Featured Story: How To Calculate Debt-to-Equity Ratio

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply