Teacher Retirement System of Texas Sells 72,145 Shares of Philip Morris International Inc. (NYSE:PM)

Teacher Retirement System of Texas cut its stake in Philip Morris International Inc. (NYSE:PM) by 23.6% in the second quarter, HoldingsChannel reports. The fund owned 233,897 shares of the company’s stock after selling 72,145 shares during the period. Teacher Retirement System of Texas’ holdings in Philip Morris International were worth $18,368,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Veritas Asset Management LLP grew its position in shares of Philip Morris International by 1.2% during the 1st quarter. Veritas Asset Management LLP now owns 6,548,888 shares of the company’s stock worth $578,856,000 after buying an additional 80,375 shares during the period. Investec Asset Management LTD grew its position in shares of Philip Morris International by 8.0% during the 2nd quarter. Investec Asset Management LTD now owns 4,140,204 shares of the company’s stock worth $325,130,000 after buying an additional 306,860 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Philip Morris International by 10.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,822,629 shares of the company’s stock worth $300,191,000 after buying an additional 368,627 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Philip Morris International by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after buying an additional 183,239 shares during the period. Finally, Pendal Group Ltd grew its position in shares of Philip Morris International by 31.5% during the 2nd quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock worth $187,959,000 after buying an additional 637,613 shares during the period. Institutional investors own 74.33% of the company’s stock.

A number of research analysts recently issued reports on PM shares. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 19th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $82.00 to $100.00 in a report on Friday, July 19th. Finally, Morgan Stanley decreased 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 report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $93.92.

In related news, VP Michael R. Kunst purchased 500 shares of Philip Morris International stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $80.74 per share, for a total transaction of $40,370.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mario Masseroli sold 1,100 shares of the company’s 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 corporate insiders.

NYSE PM traded down $0.06 during trading on Friday, reaching $82.89. 345,956 shares of the stock traded hands, compared to its average volume of 4,618,191. The firm has a market cap of $129.13 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The stock’s 50-day moving average price is $83.50 and its 200 day moving average price is $83.71. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, equities analysts anticipate that Philip Morris International Inc. will post 5.22 EPS for the current fiscal year.

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.

Featured Story: How does equity income fit into an investing strategy?

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.