Associated Banc Corp lowered its stake in shares of Altria Group Inc (NYSE:MO) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 99,781 shares of the company’s stock after selling 922 shares during the period. Associated Banc Corp’s holdings in Altria Group were worth $5,667,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Global X Management Co. LLC boosted its stake in Altria Group by 9.8% in the 1st quarter. Global X Management Co. LLC now owns 138,740 shares of the company’s stock worth $8,646,000 after purchasing an additional 12,332 shares during the period. Ashfield Capital Partners LLC boosted its stake in Altria Group by 4.2% in the 1st quarter. Ashfield Capital Partners LLC now owns 22,951 shares of the company’s stock worth $1,430,000 after purchasing an additional 915 shares during the period. Hennessy Advisors Inc. boosted its stake in Altria Group by 84.6% in the 1st quarter. Hennessy Advisors Inc. now owns 129,200 shares of the company’s stock worth $8,052,000 after purchasing an additional 59,200 shares during the period. Daiwa Securities Group Inc. boosted its stake in Altria Group by 2.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 101,080 shares of the company’s stock worth $6,299,000 after purchasing an additional 2,215 shares during the period. Finally, D.B. Root & Company LLC boosted its stake in Altria Group by 9.4% in the 1st quarter. D.B. Root & Company LLC now owns 21,726 shares of the company’s stock worth $1,354,000 after purchasing an additional 1,873 shares during the period. 62.92% of the stock is owned by institutional investors and hedge funds.
NYSE MO opened at $61.00 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. The company has a market cap of $111.32 billion, a PE ratio of 18.05, a PEG ratio of 1.72 and a beta of 0.65. Altria Group Inc has a one year low of $53.91 and a one year high of $74.38.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. sell-side analysts expect that Altria Group Inc will post 4 EPS for the current year.
Altria Group declared that its board has approved a share repurchase plan on Thursday, May 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Several research firms have weighed in on MO. Stifel Nicolaus dropped their price target on Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. ValuEngine downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Monday, April 23rd. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Morgan Stanley dropped their price target on Altria Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 26th. Finally, Piper Jaffray Companies set a $75.00 price target on Altria Group and gave the stock a “buy” rating in a research note on Monday, April 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.61.
Altria Group 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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