Bridgefront Capital LLC Takes Position in Altria Group, Inc. $MO

Key Points

• Bridgefront Capital opened a new position in Altria in Q3, buying 39,026 shares (~$2.58M), making MO 0.8% of its holdings and its sixth-largest position, while other large funds (Vanguard, State Street, Ameriprise) also increased stakes, leaving institutional ownership at ~57.4%.
• Altria announced a quarterly dividend of $1.06 (ex-dividend Mar 25, payable Apr 30), implying a $4.24 annual payout and a 6.2% yield
• Recent results showed an EPS of $1.30 vs. $1.32 expected (revenue down 0.5% YoY); MO trades near $67.96 with a market cap of ~$113.6B and carries a consensus analyst rating of "Hold" with a $65.11 target.

Bridgefront Capital LLC purchased a new position in Altria Group, Inc. (NYSE:MO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,026 shares of the company's stock, valued at approximately $2,578,000. Altria Group comprises 0.8% of Bridgefront Capital LLC's holdings, making the stock its 6th largest position.

Several other large investors also recently modified their holdings of MO. Vanguard Group Inc. lifted its holdings in Altria Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company's stock valued at $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. State Street Corp grew its stake in shares of Altria Group by 1.2% during the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company's stock valued at $4,315,438,000 after purchasing an additional 886,583 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Altria Group by 19.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock valued at $1,285,575,000 after purchasing an additional 3,172,753 shares during the period. Bank of New York Mellon Corp increased its position in shares of Altria Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company's stock valued at $842,122,000 after purchasing an additional 132,846 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of Altria Group by 0.4% during the 3rd quarter. Capital Research Global Investors now owns 12,131,644 shares of the company's stock valued at $801,412,000 after purchasing an additional 47,757 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.3%

MO stock opened at $67.96 on Friday. The business's 50-day moving average price is $64.21 and its 200-day moving average price is $62.61. The stock has a market cap of $113.62 billion, a P/E ratio of 16.53, a PEG ratio of 2.90 and a beta of 0.45. Altria Group, Inc. has a twelve month low of $52.82 and a twelve month high of $70.51.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same quarter in the previous year, the business earned $1.30 earnings per share. The business's quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.2%. Altria Group's dividend payout ratio is 103.16%.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Altria Group from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Citigroup boosted their target price on shares of Altria Group from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Argus raised shares of Altria Group to a "hold" rating in a report on Tuesday, January 13th. UBS Group increased their price target on shares of Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an "underperform" rating in a research report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.11.

About Altria Group

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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