Teacher Retirement System of Texas Has $91.74 Million Stock Holdings in Philip Morris International Inc. $PM

Teacher Retirement System of Texas decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,621 shares of the company’s stock after selling 53,683 shares during the period. Teacher Retirement System of Texas’ holdings in Philip Morris International were worth $91,744,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PM. Brighton Jones LLC raised its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Philip Morris International by 53.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock worth $1,027,000 after purchasing an additional 1,970 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in Philip Morris International by 6.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 2,050 shares of the company’s stock valued at $373,000 after purchasing an additional 118 shares during the last quarter. Finally, Maseco LLP acquired a new position in Philip Morris International in the second quarter valued at about $63,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.7%

Philip Morris International stock opened at $170.00 on Friday. The business’s 50-day simple moving average is $158.87 and its 200 day simple moving average is $161.65. The stock has a market cap of $264.63 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 1.82 and a beta of 0.40. Philip Morris International Inc. has a 12-month low of $122.76 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period in the prior year, the company posted $1.91 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 106.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $220.00 to $180.00 in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.