Renasant Bank Sells 644 Shares of Philip Morris International Inc. $PM

Renasant Bank lessened its stake in Philip Morris International Inc. (NYSE:PM) by 32.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,350 shares of the company’s stock after selling 644 shares during the period. Renasant Bank’s holdings in Philip Morris International were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $25,000. Abound Wealth Management boosted its stake in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International in the first quarter worth $30,000. Briaud Financial Planning Inc grew its holdings in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, UBS Group lowered their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Up 1.2%

Shares of NYSE PM opened at $156.93 on Wednesday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The business’s 50 day moving average price is $157.85 and its 200 day moving average price is $168.18. The firm has a market cap of $244.28 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.25 and a beta of 0.43.

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

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid 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 an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Philip Morris International Profile

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.