Shelter Mutual Insurance Co Has $5.06 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Shelter Mutual Insurance Co cut its position in Philip Morris International Inc. (NYSE:PM) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,380 shares of the company’s stock after selling 6,140 shares during the period. Philip Morris International comprises about 1.4% of Shelter Mutual Insurance Co’s portfolio, making the stock its 29th largest position. Shelter Mutual Insurance Co’s holdings in Philip Morris International were worth $5,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CX Institutional increased its position in shares of Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after acquiring an additional 363 shares in the last quarter. Manchester Financial Inc. bought a new stake in shares of Philip Morris International during the second quarter worth $36,000. Brand Asset Management Group Inc. increased its position in shares of Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after acquiring an additional 122 shares in the last quarter. Shamrock Asset Management LLC increased its position in shares of Philip Morris International by 53.9% during the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after acquiring an additional 200 shares in the last quarter. Finally, HMS Capital Management LLC bought a new stake in shares of Philip Morris International during the second quarter worth $46,000. Institutional investors own 73.70% of the company’s stock.

Shares of NYSE PM traded up $1.13 during mid-day trading on Thursday, reaching $84.46. 123,668 shares of the company were exchanged, compared to its average volume of 5,210,903. The firm’s 50-day moving average is $82.61. The company has a market capitalization of $128.19 billion, a PE ratio of 16.55, a P/E/G ratio of 2.01 and a beta of 0.96. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. On average, sell-side analysts forecast that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

In related news, VP Michael R. Kunst purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $80.74 per share, with a total value of $40,370.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on PM shares. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Morgan Stanley lowered their price objective on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $93.92.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

Further Reading: Net Income

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit