Coho Partners Ltd. Sells 148,171 Shares of Philip Morris International Inc. (NYSE:PM)

Coho Partners Ltd. lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 394,593 shares of the company's stock after selling 148,171 shares during the quarter. Philip Morris International comprises approximately 3.8% of Coho Partners Ltd.'s investment portfolio, making the stock its 8th biggest holding. Coho Partners Ltd.'s holdings in Philip Morris International were worth $62,634,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. 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 valued at $1,027,000 after purchasing an additional 2,023 shares during the period. Symmetry Investments LP acquired a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $1,966,000. Wealth Enhancement Advisory Services LLC increased 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 valued at $69,695,000 after purchasing an additional 87,631 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $2,223,000. Finally, Annex Advisory Services LLC boosted its holdings in shares of Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after acquiring an additional 11,034 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $182.57 on Friday. The stock has a market capitalization of $284.18 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $99.86 and a 1-year high of $186.69. The company has a 50 day moving average price of $173.82 and a 200 day moving average price of $151.14.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 2.96%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PM shares. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Barclays reiterated an "overweight" rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

About Philip Morris International

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.

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