Dimensional Fund Advisors LP Has $264.13 Million Position in Philip Morris International (PM)
Dimensional Fund Advisors LP lowered its position in shares of Philip Morris International (NYSE:PM) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,657,104 shares of the company’s stock after selling 4,570 shares during the period. Dimensional Fund Advisors LP owned 0.17% of Philip Morris International worth $264,126,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors purchased a new stake in Philip Morris International in the first quarter valued at $100,000. Front Row Advisors LLC purchased a new stake in Philip Morris International in the fourth quarter valued at $118,000. Wolverine Asset Management LLC purchased a new stake in Philip Morris International in the fourth quarter valued at $126,000. Cerebellum GP LLC purchased a new stake in Philip Morris International in the fourth quarter valued at $128,000. Finally, Bank of Nova Scotia Trust Co. purchased a new stake in Philip Morris International in the third quarter valued at $135,000. Hedge funds and other institutional investors own 72.34% of the company’s stock.
A number of equities research analysts recently weighed in on PM shares. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Bank of America cut shares of Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $113.00 to $88.00 in a research report on Friday, April 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $126.00 price target on shares of Philip Morris International in a research report on Thursday, February 8th. Finally, Stifel Nicolaus reduced their price target on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, April 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. Philip Morris International currently has an average rating of “Hold” and a consensus price target of $116.86.
Shares of NYSE:PM opened at $79.54 on Friday. Philip Morris International has a one year low of $78.61 and a one year high of $123.55. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68. The stock has a market capitalization of $123.22 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. sell-side analysts predict that Philip Morris International will post 5.23 EPS for the current year.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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