Waycross Partners LLC Invests $257,000 in Philip Morris International Inc. (NYSE:PM)

Key Points

• Waycross Partners LLC purchased 1,619 shares of Philip Morris International Inc. for approximately $257,000 in the first quarter, marking a new investment position for the firm.
• Institutional investors currently hold 78.63% of Philip Morris International's stock, with notable increases in stakes from firms like Vanguard and Goldman Sachs.
• The company reported an EPS of $1.91 for the recent quarter, exceeding analysts' expectations, and declared a quarterly dividend of $1.35 per share, representing a 3.2% yield.

Waycross Partners LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,619 shares of the company's stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Pacifica Partners Inc. lifted its stake 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 worth $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the first quarter worth approximately $35,000. Ball & Co Wealth Management Inc. bought a new stake in shares of Philip Morris International during the 4th quarter valued at $36,000. Ameriflex Group Inc. bought a new stake in shares of Philip Morris International during the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Philip Morris International during the first quarter valued at $38,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 1.2%

Shares of NYSE PM traded up $2.06 during trading on Friday, hitting $170.23. The company had a trading volume of 3,774,105 shares, compared to its average volume of 7,011,663. The stock has a fifty day simple moving average of $176.29 and a two-hundred day simple moving average of $163.16. Philip Morris International Inc. has a fifty-two week low of $115.62 and a fifty-two week high of $186.69. The firm has a market capitalization of $264.98 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $1.59 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analysts Set New Price Targets

A number of brokerages have commented on PM. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group began coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $186.27.

About Philip Morris International

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.