Philip Morris International Inc. (NYSE:PM) is Foyston Gordon & Payne Inc's Largest Position

Key Points

• Foyston Gordon & Payne Inc has increased its holdings in Philip Morris International by 9.7%, making it the firm's largest investment, valued at approximately $31.3 million.
• Analysts have set an average target price of $186.27 for Philip Morris International, with several institutions giving the stock an "overweight" rating.
• The company recently announced a quarterly dividend of $1.35 per share, representing a yield of 3.2%, although its dividend payout ratio is notably high at 102.66%.

Foyston Gordon & Payne Inc boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,331 shares of the company's stock after purchasing an additional 17,400 shares during the period. Philip Morris International comprises approximately 7.7% of Foyston Gordon & Payne Inc's holdings, making the stock its largest holding. Foyston Gordon & Payne Inc's holdings in Philip Morris International were worth $31,322,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after buying an additional 1,189,283 shares during the period. Capital World Investors grew its holdings in shares of 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 during the period. Northern Trust Corp raised its position in shares of Philip Morris International by 11.0% in the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock worth $1,640,392,000 after acquiring an additional 1,347,503 shares in the last quarter. Nuveen LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at approximately $1,712,994,000. Finally, Fayez Sarofim & Co lifted its stake in shares of 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 purchasing an additional 685,431 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Citigroup restated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Barclays reduced their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. 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. Finally, Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $166.19 on Friday. The firm's 50 day moving average price is $174.84 and its 200-day moving average price is $164.79. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market cap of $258.69 billion, a PE ratio of 31.60, a P/E/G 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business earned $1.59 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given 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 dividend payout ratio (DPR) is 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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