Investors Sell Philip Morris International (PM) on Strength on Analyst Downgrade

Traders sold shares of Philip Morris International Inc. (NYSE:PM) on strength during trading on Wednesday after Citigroup lowered their price target on the stock from $117.00 to $114.00. $55.51 million flowed into the stock on the tick-up and $134.43 million flowed out of the stock on the tick-down, for a money net flow of $78.92 million out of the stock. Of all stocks tracked, Philip Morris International had the 0th highest net out-flow for the day. Philip Morris International traded up $0.92 for the day and closed at $105.79

Other equities analysts also recently issued reports about the company. Piper Jaffray Companies reiterated a “buy” rating and set a $130.00 target price on shares of Philip Morris International in a research report on Sunday, October 22nd. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Goldman Sachs Group initiated coverage on Philip Morris International in a research report on Monday, October 2nd. They set a “buy” rating on the stock. Cowen reiterated a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Finally, Jefferies Group reiterated a “hold” rating and set a $120.00 target price on shares of Philip Morris International in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Philip Morris International presently has an average rating of “Hold” and an average price target of $124.54.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

A number of large investors have recently made changes to their positions in PM. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after buying an additional 2,972,929 shares in the last quarter. BlackRock Inc. grew its stake in Philip Morris International by 2.7% during the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after purchasing an additional 2,421,533 shares in the last quarter. FMR LLC grew its stake in Philip Morris International by 12.5% during the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after purchasing an additional 2,330,864 shares in the last quarter. Legal & General Group Plc grew its stake in Philip Morris International by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock valued at $871,687,000 after purchasing an additional 210,869 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Philip Morris International by 6.1% during the 2nd quarter. Royal Bank of Canada now owns 6,954,881 shares of the company’s stock valued at $816,852,000 after purchasing an additional 397,015 shares in the last quarter. Institutional investors own 72.35% of the company’s stock.

The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. The firm has a market capitalization of $163,190.00, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the business earned $1.25 EPS. Philip Morris International’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts predict that Philip Morris International Inc. will post 4.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 4.07%. Philip Morris International’s dividend payout ratio (DPR) is presently 94.48%.

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Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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