Bank of New York Mellon Corp Trims Position in Philip Morris International Inc. $PM

Key Points

• Bank of New York Mellon cut its Philip Morris International stake by 30.3% in the fourth quarter, selling more than 4 million shares. It still held 9.37 million shares worth about $1.5 billion at the end of the period.
• Analysts remain broadly positive on PM, with 10 Buy ratings and 2 Holds. The stock’s consensus rating is Moderate Buy, and the average price target is $192.56.
• Philip Morris recently beat quarterly expectations, reporting $1.96 EPS on $10.15 billion in revenue, while also paying a quarterly dividend of $1.47 per share for a 3.4% yield. However, the company has also faced negative headlines, including a profit forecast cut tied to a Canadian writedown and cost pressures.

Bank of New York Mellon Corp trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 30.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,366,456 shares of the company's stock after selling 4,062,385 shares during the period. Bank of New York Mellon Corp owned 0.60% of Philip Morris International worth $1,502,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Dogwood Wealth Management LLC increased its stake in shares of Philip Morris International by 96.5% during the third quarter. Dogwood Wealth Management LLC now owns 167 shares of the company's stock worth $27,000 after acquiring an additional 82 shares during the period. Richards Merrill & Peterson Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth about $28,000. Entrust Financial LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth about $31,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Philip Morris International during the third quarter worth about $32,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Philip Morris International during the second quarter worth about $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of several recent analyst reports. Barclays restated an "overweight" rating and set a $205.00 target price on shares of Philip Morris International in a research report on Monday, February 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $200.00 price objective on shares of Philip Morris International in a research note on Thursday, April 23rd. Citigroup increased their price target on shares of Philip Morris International from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Finally, Bank of America reissued a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $192.56.

Philip Morris International Price Performance

Shares of PM stock opened at $173.63 on Wednesday. The firm has a market cap of $270.62 billion, a P/E ratio of 24.42, a P/E/G ratio of 1.99 and a beta of 0.38. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $193.05. The firm has a fifty day moving average of $169.88 and a two-hundred day moving average of $168.43.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.13. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.95 billion. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.69 EPS. Philip Morris International has set its FY 2026 guidance at 8.360-8.510 EPS and its Q2 2026 guidance at 2.020-2.070 EPS. On average, sell-side analysts expect that Philip Morris International Inc. will post 8.45 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Thursday, March 19th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, March 19th. Philip Morris International's dividend payout ratio (DPR) is currently 82.70%.

Key Headlines Impacting Philip Morris International

Here are the key news stories impacting Philip Morris International this week:

• Positive Sentiment: Philip Morris reiterated that its smoke-free business remains a key growth engine, with management highlighting broad-based momentum led by IQOS at the dbAccess Global Consumer Conference. Article: Philip Morris International Participates in 2026 dbAccess Global Consumer Conference; Updates 2026 Full-Year Diluted EPS Forecast for Currency and Non-Cash Impairment Only
• Positive Sentiment: The company said the EPS forecast change is tied to currency and a non-cash impairment rather than a collapse in underlying demand, which may limit the longer-term impact if operating trends hold up. Article: Philip Morris International Participates in 2026 dbAccess Global Consumer Conference; Updates 2026 Full-Year Diluted EPS Forecast for Currency and Non-Cash Impairment Only
• Neutral Sentiment: Management presentation at the global consumer conference may provide more detail on strategy and category growth, but by itself does not materially change the story. Article: Philip Morris International Inc. (PM) Presents at 23rd annual dbAccess Global Consumer Conference Transcript
• Negative Sentiment: Philip Morris cut its annual profit forecast after a $500 million write-down of its Canadian investment, signaling lower expected earnings this year. Article: Philip Morris Cuts Outlook on $500 Million Canada Writedown
• Negative Sentiment: Reuters reported the company also sees margin pressure from higher energy costs, currency swings, and weaker pricing power as consumers become more cautious. Article: Philip Morris cuts annual profit forecast on cost pressure, weak pricing power

Philip Morris International Profile

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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