Kornitzer Capital Management Inc. KS Lowers Stock Position in Philip Morris International Inc. (NYSE:PM)

Kornitzer Capital Management Inc. KS cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,810 shares of the company’s stock after selling 150 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Philip Morris International were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Manchester Financial Inc. purchased a new position in Philip Morris International in the 2nd quarter valued at $36,000. Brand Asset Management Group Inc. grew its position in Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after buying an additional 122 shares during the last quarter. HMS Capital Management LLC purchased a new position in Philip Morris International in the 2nd quarter valued at $46,000. Shamrock Asset Management LLC grew its position in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Finally, Weaver Consulting Group purchased a new position in Philip Morris International in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

A number of equities analysts recently weighed in on PM shares. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley decreased their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Wells Fargo & Co set a $102.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and a consensus price target of $93.92.

Shares of NYSE PM opened at $84.91 on Friday. The firm has a market capitalization of $129.65 billion, a P/E ratio of 16.65, a PEG ratio of 2.04 and a beta of 0.96. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The company’s fifty day moving average is $82.88 and its two-hundred day moving average is $83.58.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

In other news, VP Michael R. Kunst purchased 1,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $79.66 per share, with a total value of $79,660.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Philip Morris International Profile

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: Understanding Analyst Ratings

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

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