Hosking Partners LLP Sells 1,586 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Hosking Partners LLP reduced its holdings in Philip Morris International by 1.5%, now owning 100,938 shares valued at $16.02 million.
• Analysts have a favorable outlook for Philip Morris International, with an average rating of "Moderate Buy" and a target price of $186.27.
• The company recently declared a quarterly dividend of $1.35 per share, yielding approximately 3.2%, despite a dividend payout ratio of over 100%.

Hosking Partners LLP reduced its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,938 shares of the company's stock after selling 1,586 shares during the quarter. Hosking Partners LLP's holdings in Philip Morris International were worth $16,022,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Donoghue Forlines LLC boosted its position in shares of Philip Morris International by 18.7% during the first quarter. Donoghue Forlines LLC now owns 14,880 shares of the company's stock valued at $2,362,000 after buying an additional 2,340 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $10,883,000. Townsquare Capital LLC boosted its position in shares of Philip Morris International by 20.2% during the first quarter. Townsquare Capital LLC now owns 342,088 shares of the company's stock valued at $54,300,000 after buying an additional 57,408 shares during the last quarter. Ardent Capital Management Inc. boosted its position in shares of Philip Morris International by 19.1% during the first quarter. Ardent Capital Management Inc. now owns 30,284 shares of the company's stock valued at $4,807,000 after buying an additional 4,850 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its position in Philip Morris International by 2.1% in the first quarter. Founders Financial Alliance LLC now owns 21,680 shares of the company's stock worth $3,441,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PM shares. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Citigroup restated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Stock Performance

PM stock traded up $2.06 during trading on Friday, hitting $170.23. 3,774,105 shares of the company traded hands, compared to its average volume of 7,028,849. The firm has a market capitalization of $264.98 billion, a PE ratio of 32.36, a P/E/G ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a 1 year low of $115.62 and a 1 year high of $186.69. The company has a 50-day moving average of $176.29 and a 200-day moving average of $163.71.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS 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 negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio is currently 102.66%.

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.