Public Employees Retirement System of Ohio Makes New $47.22 Million Investment in Altria Group, Inc. $MO

Key Points

• Public Employees Retirement System of Ohio acquired 656,331 Altria shares worth approximately $47.2 million during the second quarter. Institutional investors collectively own 57.41% of the company.
• Analysts have a mixed outlook on Altria, resulting in an overall “Hold” rating and an average price target of $70.11. Recent targets range from $58 to $66, while the stock opened at $67.66.
• Altria increased its quarterly dividend from $1.06 to $1.11 per share, equating to an annualized dividend of $4.44 and a 6.6% yield; the company recently reported $1.48 in quarterly EPS on $5.36 billion in revenue.

Public Employees Retirement System of Ohio bought a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 656,331 shares of the company's stock, valued at approximately $47,223,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund increased its stake in shares of Altria Group by 7.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company's stock worth $38,531,000 after purchasing an additional 44,267 shares during the period. Procyon Advisors LLC boosted its stake in Altria Group by 59.3% during the 1st quarter. Procyon Advisors LLC now owns 38,926 shares of the company's stock valued at $2,569,000 after purchasing an additional 14,490 shares during the period. Rayburn West Financial Services LLC acquired a new stake in Altria Group in the 4th quarter valued at approximately $2,438,000. North Dakota State Investment Board acquired a new stake in Altria Group in the 4th quarter valued at approximately $3,336,000. Finally, International Assets Investment Management LLC increased its position in Altria Group by 206.7% in the 4th quarter. International Assets Investment Management LLC now owns 75,573 shares of the company's stock worth $4,358,000 after buying an additional 50,931 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research analyst reports. Barclays cut their price target on Altria Group from $64.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $60.00 to $66.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Jefferies Financial Group lifted their target price on Altria Group from $50.00 to $60.00 and gave the stock an "underperform" rating in a research report on Wednesday, May 27th. BTIG Research began coverage on Altria Group in a research note on Tuesday, July 21st. They set a "neutral" rating on the stock. Finally, Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $70.11.

Altria Group Stock Down 2.1%

Shares of MO stock opened at $67.66 on Friday. The company has a market capitalization of $112.97 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.45 and a beta of 0.46. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $77.06. The firm has a 50-day moving average price of $70.11 and a 200 day moving average price of $68.95.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business posted $1.44 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, research analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be paid a $1.11 dividend. This is an increase from Altria Group's previous quarterly dividend of $1.06. This represents a $4.44 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Altria Group's payout ratio is presently 89.45%.

About Altria Group

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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