Philip Morris International Inc. $PM Shares Acquired by Canoe Financial LP

Canoe Financial LP lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 57.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,015,591 shares of the company’s stock after purchasing an additional 369,652 shares during the period. Philip Morris International comprises about 2.4% of Canoe Financial LP’s investment portfolio, making the stock its 12th biggest holding. Canoe Financial LP’s holdings in Philip Morris International were worth $164,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the last quarter. State Street Corp raised its position in shares of Philip Morris International by 1.6% during the 2nd quarter. State Street Corp now owns 55,831,655 shares of the company’s stock valued at $10,243,429,000 after acquiring an additional 871,165 shares in the last quarter. Geode Capital Management LLC lifted its stake in Philip Morris International by 1.8% during the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after purchasing an additional 672,983 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the period. Finally, Fayez Sarofim & Co increased its stake in Philip Morris International by 7.9% during the second quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock valued at $1,944,585,000 after purchasing an additional 782,536 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 0.4%

Philip Morris International stock opened at $162.78 on Friday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a market capitalization of $253.38 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.95 and a beta of 0.42. The firm has a 50-day moving average price of $154.09 and a two-hundred day moving average price of $164.04.

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

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Company 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.