Principal Financial Group Inc. Boosts Stake in Philip Morris International Inc (PM)

Principal Financial Group Inc. lifted its position in shares of Philip Morris International Inc (NYSE:PM) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,597,934 shares of the company’s stock after acquiring an additional 376,072 shares during the quarter. Principal Financial Group Inc. owned approximately 0.17% of Philip Morris International worth $305,127,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Sullivan Bruyette Speros & Blaney LLC boosted its stake in Philip Morris International by 4.2% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 9,929 shares of the company’s stock worth $1,166,000 after purchasing an additional 403 shares during the period. Birinyi Associates Inc. boosted its stake in Philip Morris International by 15.0% in the 2nd quarter. Birinyi Associates Inc. now owns 27,160 shares of the company’s stock worth $3,190,000 after purchasing an additional 3,550 shares during the period. Evergreen Capital Management LLC bought a new position in Philip Morris International in the 2nd quarter worth about $209,000. DSAM Partners London Ltd bought a new position in Philip Morris International in the 2nd quarter worth about $36,592,000. Finally, Davidson & Garrard Inc. boosted its stake in Philip Morris International by 0.4% in the 2nd quarter. Davidson & Garrard Inc. now owns 10,254 shares of the company’s stock worth $1,204,000 after purchasing an additional 40 shares during the period. Institutional investors own 72.90% of the company’s stock.

In related news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Louis C. Camilleri sold 108,979 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

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Several research analysts have commented on the company. Piper Jaffray Companies set a $130.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company reissued an “outperform” rating and set a $135.00 price objective (down from $140.00) on shares of Philip Morris International in a report on Wednesday, November 15th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Jefferies Group LLC reissued a “hold” rating and set a $114.00 price objective on shares of Philip Morris International in a report on Friday, October 20th. Finally, Bank of America Corporation decreased their price objective on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Philip Morris International presently has an average rating of “Buy” and a consensus target price of $124.23.

Shares of Philip Morris International Inc (PM) opened at $102.64 on Monday. Philip Morris International Inc has a fifty-two week low of $86.78 and a fifty-two week high of $123.55. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. The stock has a market capitalization of $159,420.75, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91.

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

Philip Morris International Profile

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.

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

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