Mackenzie Financial Corp Grows Position in Altria Group, Inc. (NYSE:MO)

Mackenzie Financial Corp grew its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,005,493 shares of the company's stock after purchasing an additional 30,746 shares during the quarter. Mackenzie Financial Corp owned approximately 0.12% of Altria Group worth $104,867,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Csenge Advisory Group boosted its stake in shares of Altria Group by 29.1% during the fourth quarter. Csenge Advisory Group now owns 54,684 shares of the company's stock valued at $2,859,000 after purchasing an additional 12,320 shares during the period. Truist Financial Corp boosted its stake in shares of Altria Group by 27.6% during the fourth quarter. Truist Financial Corp now owns 2,418,074 shares of the company's stock valued at $126,441,000 after purchasing an additional 523,146 shares during the period. Burford Brothers Inc. boosted its stake in shares of Altria Group by 40.3% during the fourth quarter. Burford Brothers Inc. now owns 36,951 shares of the company's stock valued at $1,932,000 after purchasing an additional 10,605 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Altria Group by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,414,856 shares of the company's stock worth $178,563,000 after acquiring an additional 39,341 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Altria Group by 40.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company's stock worth $3,703,000 after acquiring an additional 20,309 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

MO opened at $59.74 on Friday. The stock has a 50-day moving average price of $58.13 and a 200-day moving average price of $55.69. The firm has a market cap of $100.63 billion, a PE ratio of 9.12, a P/E/G ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Altria Group's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio is presently 68.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Morgan Stanley dropped their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Stifel Nicolaus raised their price objective on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has an average rating of "Hold" and an average price target of $56.00.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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