Cadence Bank Reduces Holdings in Philip Morris International Inc. $PM

Key Points

• Cadence Bank has reduced its stake in Philip Morris International Inc. by 46.9%, selling 49,396 shares and leaving them with 55,924 shares valued at $8.88 million.
• Despite a decrease in Cadence's holdings, several hedge funds like Nuveen LLC and Wellington Management Group LLP have significantly increased their investments in Philip Morris International during the first quarter.
• Philip Morris reported earnings per share of $1.91 for the last quarter, which exceeded analysts' expectations, but its revenue fell short of forecasts at $10.14 billion.

Cadence Bank trimmed its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 46.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,924 shares of the company's stock after selling 49,396 shares during the period. Cadence Bank's holdings in Philip Morris International were worth $8,877,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PM. Nuveen LLC purchased a new position in Philip Morris International during the 1st quarter worth $1,712,994,000. Wellington Management Group LLP grew its position in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. GAMMA Investing LLC grew its position in Philip Morris International by 19,986.5% during the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock worth $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in Philip Morris International by 372.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 1.6%

Shares of NYSE PM opened at $171.67 on Friday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm has a 50-day moving average price of $173.69 and a 200 day moving average price of $165.95. The stock has a market capitalization of $267.22 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is presently 102.66%.

Analyst Ratings Changes

Several research firms have recently commented on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Barclays reduced their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. KGI Securities began coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating for the company. Finally, Citigroup restated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.