Townsquare Capital LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Townsquare Capital LLC increased its stake in Philip Morris International Inc. by 20.2%, holding 342,088 shares valued at approximately $54.3 million.
• Philip Morris reported a 7.1% revenue increase year-over-year, with $10.14 billion in revenue for the last quarter, despite earnings per share exceeding expectations at $1.91.
• The company's recent dividend was declared at $1.35 per share, resulting in a 3.2% dividend yield, although it has a payout ratio of over 102%.

Townsquare Capital LLC boosted its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,088 shares of the company's stock after acquiring an additional 57,408 shares during the period. Townsquare Capital LLC's holdings in Philip Morris International were worth $54,300,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Pacifica Partners Inc. raised its position in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the first quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. bought a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. bought a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Philip Morris International in the first quarter valued at approximately $38,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of analyst reports. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating on the stock. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Bank of America upped their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Stock Up 1.2%

Shares of NYSE PM traded up $2.06 during mid-day trading on Friday, reaching $170.23. 3,774,105 shares of the company were exchanged, compared to its average volume of 7,011,663. Philip Morris International Inc. has a 52 week low of $115.62 and a 52 week high of $186.69. The stock has a market capitalization of $264.98 billion, a PE ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48. The company's 50 day moving average price is $176.29 and its 200 day moving average price is $163.44.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) 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 the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $1.59 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

Philip Morris International Company 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.