Burgundy Asset Management Ltd. Increases Position in Philip Morris International Inc. (PM)

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Burgundy Asset Management Ltd. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,810,235 shares of the company’s stock after purchasing an additional 123,394 shares during the quarter. Philip Morris International accounts for about 2.2% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 14th largest position. Burgundy Asset Management Ltd. owned about 0.18% of Philip Morris International worth $226,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Optimum Investment Advisors bought a new stake in Philip Morris International during the 1st quarter worth approximately $100,000. Shine Investment Advisory Services Inc. grew its holdings in Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after acquiring an additional 592 shares during the last quarter. Landaas & Co. WI ADV bought a new stake in Philip Morris International during the 2nd quarter worth approximately $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Philip Morris International during the 2nd quarter worth approximately $108,000. Finally, Cordasco Financial Network grew its holdings in Philip Morris International by 214.1% during the 2nd quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock worth $110,000 after acquiring an additional 925 shares during the last quarter. 72.88% of the stock is currently owned by institutional investors.

NYSE:PM opened at $78.79 on Thursday. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $119.43. The firm has a market capitalization of $121.08 billion, a PE ratio of 15.98, a PEG ratio of 1.71 and a beta of 0.82.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 19th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.18. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. equities research analysts forecast that Philip Morris International Inc. will post 5.05 earnings per share for the current year.

PM has been the topic of a number of research reports. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, May 14th. Jefferies Financial Group reissued a “buy” rating and set a $93.00 target price on shares of Philip Morris International in a report on Friday, July 13th. Citigroup set a $90.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 20th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Finally, Societe Generale lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Philip Morris International presently has a consensus rating of “Hold” and an average price target of $103.36.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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