Fox Run Management L.L.C. Purchases Shares of 2,559 Philip Morris International Inc. $PM

Fox Run Management L.L.C. acquired a new position in Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,559 shares of the company’s stock, valued at approximately $466,000.

Several other large investors have also made changes to their positions in the business. Linscomb Wealth Inc. lifted its holdings in shares of Philip Morris International by 3.3% during the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp grew its position in Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. First American Trust FSB increased its stake in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares in the last quarter. SpringVest Wealth Management LLC acquired a new stake in Philip Morris International in the 1st quarter valued at about $253,000. Finally, SFE Investment Counsel bought a new position in Philip Morris International in the 1st quarter worth approximately $327,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of research reports. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, UBS Group cut their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Trading Up 1.2%

Philip Morris International stock opened at $156.93 on Wednesday. The company has a market capitalization of $244.28 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.25 and a beta of 0.43. The stock’s 50 day moving average is $157.85 and its 200-day moving average is $168.18. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion during the quarter. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 106.52%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.