Canada Pension Plan Investment Board Acquires Shares of 1,473,678 Philip Morris International Inc. $PM

Key Points

• Canada Pension Plan Investment Board acquired 1,473,678 shares of Philip Morris International in the second quarter, worth approximately $266.6 million and representing about 0.09% of the company.
• Philip Morris reported quarterly EPS of $2.20, exceeding the $2.05 consensus estimate, while revenue rose 10.4% year over year to $11.19 billion. The company also maintains a quarterly dividend of $1.47 per share, yielding about 3.0% annually.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds; the consensus price target is $205.89, compared with the stock’s reported price of $194.00.

Canada Pension Plan Investment Board bought a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,473,678 shares of the company's stock, valued at approximately $266,603,000. Canada Pension Plan Investment Board owned approximately 0.09% of Philip Morris International as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PM. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Philip Morris International by 53.7% during the second quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company's stock valued at $1,027,000 after purchasing an additional 1,970 shares during the last quarter. Jump Financial LLC purchased a new position in Philip Morris International in the second quarter valued at about $2,454,000. Finally, Osterweis Capital Management Inc. increased its position in Philip Morris International by 2,280.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company's stock worth $65,000 after purchasing an additional 342 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Price Performance

NYSE PM opened at $194.00 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $207.76. The stock's 50-day moving average is $186.42 and its two-hundred day moving average is $178.55. The firm has a market cap of $302.36 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.15. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a yield of 3.0%. Philip Morris International's dividend payout ratio is presently 84.48%.

Trending Headlines about Philip Morris International

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

• Positive Sentiment: FDA authorization strengthens ZYN growth prospects. The FDA authorized 11 ZYN ULTRA nicotine-pouch products, expanding PM’s U.S. smoke-free portfolio and supporting its longer-term shift away from combustible tobacco. Smoke-free products, led by ZYN and IQOS, now account for more than 41% of revenue, offering a potential multiyear growth runway. Philip Morris’ ZYN ULTRA FDA Authorization Strengthens Smoke-Free Push
• Positive Sentiment: Manufacturing agreements with Altria may improve efficiency. PM and Altria entered reciprocal contract-manufacturing arrangements involving cigarette production. The agreements should increase operational flexibility and manufacturing efficiency, with initial shipments expected in 2027. The partnership may provide longer-term cost and supply-chain benefits for PM, despite limited near-term earnings impact. Altria and Philip Morris International Sign Contract Manufacturing Deals
• Positive Sentiment: Pricing power and shareholder returns remain supportive. PM’s portfolio spans IQOS, ZYN, VEEV One, and Marlboro, helping it maintain premium pricing amid uncertain economic conditions. Analysts highlight strong free cash flow, lower debt leverage, and the possibility of another dividend increase in September. Philip Morris: Big Tobacco With High-Growth Smoke-Free Assets
• Neutral Sentiment: Near-term financial impact from the Altria deal is expected to be limited. Both companies said the manufacturing arrangements are not expected to materially affect 2026 results, so investors may need to wait until 2027 for measurable benefits. Altria vs. Philip Morris: What the New Manufacturing Deal Means for Investors
• Negative Sentiment: Valuation leaves less room for disappointment. PM’s smoke-free growth and defensive cash flows have attracted a premium valuation, creating downside risk if product adoption, regulatory momentum, or earnings growth falls short of expectations.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC raised their price target on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Stifel Nicolaus increased their price objective on Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Monday, August 17th. Morgan Stanley raised their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Bank of America reiterated a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $205.89.

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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