Public Employees Retirement System of Ohio Invests $107.43 Million in Philip Morris International Inc. $PM

Public Employees Retirement System of Ohio acquired a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 593,810 shares of the company's stock, valued at approximately $107,426,000.

Several other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 30.9% in the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company's stock worth $2,111,198,000 after acquiring an additional 2,755,662 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Philip Morris International by 40.3% during the 4th quarter. Global Retirement Partners LLC now owns 67,177 shares of the company's stock valued at $10,775,000 after purchasing an additional 19,309 shares during the last quarter. Perennial Investment Advisors LLC bought a new stake in Philip Morris International during the 2nd quarter worth approximately $505,000. New York Life Investment Management LLC increased its holdings in Philip Morris International by 3.6% during the 4th quarter. New York Life Investment Management LLC now owns 216,613 shares of the company's stock worth $34,745,000 after purchasing an additional 7,600 shares in the last quarter. Finally, Addison Capital Co raised its stake in shares of Philip Morris International by 32.5% in the first quarter. Addison Capital Co now owns 31,779 shares of the company's stock worth $5,254,000 after purchasing an additional 7,793 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Bank of America reissued a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Morgan Stanley boosted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.89.

Philip Morris International Trading Down 1.8%

Shares of Philip Morris International stock opened at $190.52 on Friday. The business's fifty day simple moving average is $186.94 and its 200 day simple moving average is $178.69. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $207.76. The firm has a market capitalization of $296.94 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The business's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, June 25th. Philip Morris International's dividend payout ratio (DPR) is 84.48%.

Philip Morris International Profile

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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