Schafer Cullen Capital Management Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 921,133 shares of the company’s stock after selling 334,924 shares during the period. Schafer Cullen Capital Management Inc. owned about 0.06% of Philip Morris International worth $108,187,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PM. Guidant Wealth Advisors boosted its stake in shares of Philip Morris International by 25.5% during the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Philip Morris International during the 1st quarter worth about $114,000. Vantage Investment Advisors LLC boosted its stake in shares of Philip Morris International by 1.0% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares in the last quarter. Acropolis Investment Management LLC boosted its stake in shares of Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Philip Morris International by 13.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock worth $144,000 after acquiring an additional 150 shares in the last quarter. 72.63% of the stock is currently owned by institutional investors.

Shares of Philip Morris International Inc. (PM) traded up $1.26 during trading hours on Wednesday, reaching $107.30. The company had a trading volume of 4,428,300 shares, compared to its average volume of 4,127,201. Philip Morris International Inc. has a 1 year low of $88.90 and a 1 year high of $123.55. The company has a market cap of $164,701.64, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. research analysts predict that Philip Morris International Inc. will post 4.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be issued a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 3.99%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.

Several analysts have recently issued reports on the company. Cowen reiterated a “buy” rating and set a $135.00 price target on shares of Philip Morris International in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $134.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Saturday, August 19th. Jefferies Group restated a “hold” rating and set a $120.00 target price (down previously from $121.00) on shares of Philip Morris International in a research note on Thursday, August 24th. Wells Fargo & Company restated an “outperform” rating and set a $140.00 target price on shares of Philip Morris International in a research note on Tuesday, October 10th. Finally, Goldman Sachs Group upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 target price for the company in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International has an average rating of “Hold” and an average target price of $124.23.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

WARNING: “Schafer Cullen Capital Management Inc. Reduces Holdings in Philip Morris International Inc. (PM)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/12/13/schafer-cullen-capital-management-inc-reduces-holdings-in-philip-morris-international-inc-pm.html.

About Philip Morris International

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.

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.