Yacktman Asset Management LP Cuts Stock Holdings in Altria Group Inc (NYSE:MO)

Yacktman Asset Management LP decreased its holdings in shares of Altria Group Inc (NYSE:MO) by 10.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 22,500 shares of the company’s stock after selling 2,500 shares during the period. Yacktman Asset Management LP’s holdings in Altria Group were worth $1,065,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MO. Country Trust Bank grew its holdings in shares of Altria Group by 86.9% during the first quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after buying an additional 239 shares in the last quarter. HMS Capital Management LLC purchased a new stake in shares of Altria Group during the second quarter worth $41,000. James Investment Research Inc. purchased a new stake in shares of Altria Group during the first quarter worth $43,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Altria Group by 113.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock worth $45,000 after buying an additional 416 shares in the last quarter. Finally, Interactive Financial Advisors grew its holdings in shares of Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after buying an additional 500 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Shares of MO traded up $1.00 during mid-day trading on Friday, reaching $46.49. The stock had a trading volume of 4,177,440 shares, compared to its average volume of 7,873,466. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. Altria Group Inc has a 52-week low of $42.40 and a 52-week high of $66.04. The business’s fifty day moving average is $48.41 and its 200 day moving average is $51.56. The firm has a market cap of $87.39 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.46 and a beta of 0.38.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Altria Group’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Altria Group Inc will post 4.17 EPS for the current fiscal year.

Altria Group declared that its board has approved a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently issued reports on MO shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a report on Friday, August 9th. Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a report on Friday, July 12th. TheStreet lowered shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup set a $45.00 price objective on shares of Altria Group and gave the company a “sell” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $60.74.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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