Schnieders Capital Management LLC Lowers Stake in Philip Morris International Inc. (NYSE:PM)

Schnieders Capital Management LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,390 shares of the company’s stock after selling 177 shares during the quarter. Schnieders Capital Management LLC’s holdings in Philip Morris International were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Veritas Asset Management LLP boosted its stake in shares of Philip Morris International by 1.2% during the first quarter. Veritas Asset Management LLP now owns 6,548,888 shares of the company’s stock valued at $578,856,000 after purchasing an additional 80,375 shares during the period. Investec Asset Management LTD boosted its stake in shares of Philip Morris International by 8.0% during the second quarter. Investec Asset Management LTD now owns 4,140,204 shares of the company’s stock valued at $325,130,000 after purchasing an additional 306,860 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Philip Morris International by 10.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,822,629 shares of the company’s stock valued at $300,191,000 after purchasing an additional 368,627 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Philip Morris International by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock valued at $193,823,000 after purchasing an additional 183,239 shares during the period. Finally, Pendal Group Ltd boosted its stake in shares of Philip Morris International by 31.5% during the second quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock valued at $187,959,000 after purchasing an additional 637,613 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.

PM has been the subject of several recent research reports. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $82.00 to $100.00 in a report on Friday, July 19th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the company a “buy” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $93.92.

In related news, VP Michael R. Kunst acquired 500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $80.74 per share, for a total transaction of $40,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $96,162.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Shares of PM traded down $1.73 during mid-day trading on Friday, hitting $81.22. 2,923,273 shares of the company traded hands, compared to its average volume of 4,566,205. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The company has a market capitalization of $129.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The business has a 50 day moving average of $83.53 and a 200 day moving average of $83.74.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.22 earnings per share for the current fiscal year.

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.

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

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