Korea Investment CORP Has $197.31 Million Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Korea Investment CORP has increased its stake in Philip Morris International Inc. by 10.0%, owning 1,243,072 shares, valued at approximately $197.31 million.
• The company recently reported a quarterly EPS of $1.91, beating analysts' estimates of $1.86, despite revenue falling short of expectations at $10.14 billion.
• Analysts maintain a consensus rating of "Moderate Buy" with a price target of $186.27, while some firms have upgraded their price estimates for the stock.

Korea Investment CORP increased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,243,072 shares of the company's stock after acquiring an additional 113,089 shares during the period. Korea Investment CORP owned about 0.08% of Philip Morris International worth $197,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after acquiring an additional 1,189,283 shares during the period. Northern Trust Corp increased its stake in Philip Morris International by 11.0% in the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after buying an additional 1,347,503 shares during the last quarter. Nuveen LLC acquired a new stake in Philip Morris International in the 1st quarter valued at $1,712,994,000. Fayez Sarofim & Co increased its stake in Philip Morris International by 7.1% in the 4th quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock valued at $1,241,216,000 after buying an additional 685,431 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PM shares. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Barclays lowered their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Price Performance

Shares of PM opened at $166.19 on Monday. The firm has a 50-day moving average of $174.84 and a 200-day moving average of $165.04. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The company has a market cap of $258.69 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48.

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, beating analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS. Analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. 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 payout ratio is presently 102.66%.

Philip Morris International 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.

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