Pacer Advisors Inc. Buys 26,648 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Pacer Advisors Inc. increased its stake in Philip Morris International by 4.9%, acquiring an additional 26,648 shares, bringing its total holdings to 574,414 shares valued at approximately $91 million.
• Multiple institutional investors, including Capital World Investors and Geode Capital Management, also raised their stakes, reflecting a strong interest in Philip Morris, which is now 78.63% owned by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" for Philip Morris International, with price targets ranging around $170 to $195, after the company reported a quarterly EPS of $1.91, exceeding expectations.

Pacer Advisors Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,414 shares of the company's stock after buying an additional 26,648 shares during the quarter. Pacer Advisors Inc.'s holdings in Philip Morris International were worth $91,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Capital World Investors grew its holdings in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares during the period. Wellington Management Group LLP lifted its position in shares of Philip Morris International by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after purchasing an additional 516,617 shares during the period. Franklin Resources Inc. boosted its stake in shares of Philip Morris International by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 14,249,131 shares of the company's stock valued at $1,714,883,000 after purchasing an additional 1,248,561 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Philip Morris International by 11.0% during the fourth 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 period. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PM. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research report on Wednesday. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday. Finally, UBS Group boosted their target price on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Down 2.2%

Shares of Philip Morris International stock opened at $161.04 on Friday. The firm has a market capitalization of $250.66 billion, a P/E ratio of 30.62, a PEG ratio of 2.35 and a beta of 0.51. Philip Morris International Inc. has a 52 week low of $111.41 and a 52 week high of $186.69. The company has a 50 day moving average price of $179.05 and a 200 day moving average price of $159.86.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal 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 3.35%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

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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