Kornitzer Capital Management Inc. KS Has $333,000 Position in Philip Morris International Inc (NYSE:PM)
Kornitzer Capital Management Inc. KS reduced its stake in shares of Philip Morris International Inc (NYSE:PM) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,950 shares of the company’s stock after selling 100 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Philip Morris International were worth $333,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Gradient Investments LLC raised its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares during the last quarter. Acropolis Investment Management LLC bought a new position in Philip Morris International during the first quarter worth $117,000. Gemmer Asset Management LLC raised its position in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Philip Morris International during the fourth quarter worth $106,000. Finally, American National Bank raised its position in Philip Morris International by 19.8% in the first quarter. American National Bank now owns 1,737 shares of the company’s stock worth $196,000 after buying an additional 287 shares during the last quarter. 72.33% of the stock is owned by institutional investors and hedge funds.
Philip Morris International Inc (PM) traded up 0.24% during mid-day trading on Friday, hitting $114.76. The company had a trading volume of 4,456,691 shares. The firm has a market capitalization of $178.24 billion, a P/E ratio of 25.43 and a beta of 0.93. The company has a 50-day moving average price of $118.90 and a 200 day moving average price of $112.12. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.09. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. Equities analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, June 21st. Philip Morris International’s payout ratio is currently 92.24%.
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Several research analysts have recently commented on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Berenberg Bank set a $96.00 price objective on Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. Vetr upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $111.99 price objective for the company in a research report on Tuesday, May 16th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of Philip Morris International in a research report on Friday, June 9th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and an average target price of $122.00.
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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