Clark Estates Inc. NY Reduces Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Clark Estates Inc. reduced its holdings in Philip Morris International by 41%, now owning 50,300 shares valued at $7.98 million, making it the 13th largest holding in their portfolio.
• Multiple hedge funds have increased their stakes in Philip Morris, with over 78.63% of the stock owned by institutional investors.
• Analysts are optimistic about Philip Morris, with a consensus rating of "Moderate Buy" and an average price target of $186.73, reflecting potential growth in the stock's value.

Clark Estates Inc. NY cut its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 41.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,300 shares of the company's stock after selling 35,000 shares during the quarter. Philip Morris International makes up approximately 1.7% of Clark Estates Inc. NY's investment portfolio, making the stock its 13th largest position. Clark Estates Inc. NY's holdings in Philip Morris International were worth $7,984,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Mackenzie Financial Corp lifted its stake in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after buying an additional 242,799 shares in the last quarter. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after acquiring an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO lifted its position in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after acquiring an additional 125,171 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Finally, SpringVest Wealth Management LLC purchased a new stake in shares of Philip Morris International during the first quarter worth approximately $253,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Trading Down 0.7%

PM traded down $1.09 on Friday, hitting $162.96. 7,552,974 shares of the company were exchanged, compared to its average volume of 6,566,090. The firm has a 50-day moving average price of $177.55 and a two-hundred day moving average price of $161.60. Philip Morris International Inc. has a twelve month low of $113.15 and a twelve month high of $186.69. The company has a market cap of $253.66 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49.

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

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

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.