Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,630 shares of the company’s stock after acquiring an additional 52,109 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $23,687,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Titan Capital Management LLC CA acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $30,000. Manchester Financial Inc. bought a new stake in Philip Morris International in the 2nd quarter valued at $36,000. Brand Asset Management Group Inc. boosted its stake in Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares during the period. Shamrock Asset Management LLC boosted its stake in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Finally, HMS Capital Management LLC bought a new stake in Philip Morris International in the 2nd quarter valued at $46,000. 74.33% of the stock is currently owned by institutional investors and hedge funds.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Kunst bought 500 shares of the stock in a transaction on Wednesday, May 29th. The stock was purchased at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the company earned $1.41 EPS. Philip Morris International’s revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts predict that Philip Morris International Inc. will post 5.22 EPS for the current fiscal year.
Several research firms recently issued reports on PM. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America upgraded Philip Morris International from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $93.92.
Philip Morris International Profile
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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