Canoe Financial LP Sells 489,574 Shares of Philip Morris International Inc. $PM

Key Points

• Canoe Financial LP reduced its stake in Philip Morris International by 43.1% in the second quarter, now holding 645,939 shares, valued at approximately $117,645,000.
• Analysts have varied ratings on Philip Morris, with Bank of America raising its target price from $182 to $200 and Jefferies setting a price objective of $220, while Wall Street Zen downgraded it to a "hold."
• Philip Morris reported $1.91 earnings per share for the latest quarter, surpassing estimates, but its revenue of $10.14 billion fell short of expectations, compared to a year-over-year revenue increase of 7.1%.

Canoe Financial LP lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 43.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 645,939 shares of the company's stock after selling 489,574 shares during the period. Philip Morris International comprises 1.7% of Canoe Financial LP's portfolio, making the stock its 24th biggest holding. Canoe Financial LP's holdings in Philip Morris International were worth $117,645,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Brighton Jones LLC lifted its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its stake 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 worth $252,000 after purchasing an additional 91 shares during the period. Woodline Partners LP bought a new position in Philip Morris International during the fourth quarter worth about $11,238,000. Waverly Advisors LLC lifted its stake in Philip Morris International by 21.2% during the fourth quarter. Waverly Advisors LLC now owns 27,761 shares of the company's stock worth $3,341,000 after purchasing an additional 4,852 shares during the period. Finally, PharVision Advisers LLC bought a new position in Philip Morris International during the fourth quarter worth about $302,000. Institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

PM has been the subject of a number of analyst reports. UBS Group cut their price target on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $184.91.

Philip Morris International Trading Down 0.4%

Shares of Philip Morris International stock traded down $0.61 during midday trading on Monday, reaching $162.34. The company had a trading volume of 5,686,262 shares, compared to its average volume of 5,993,959. The company has a market capitalization of $252.69 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 2.36 and a beta of 0.49. The stock has a fifty day simple moving average of $167.26 and a 200 day simple moving average of $168.11. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

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

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. Philip Morris International's payout ratio is 111.79%.

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.