Employees Retirement System of Texas Has $42.62 Million Position in Philip Morris International Inc. (PM)

Share on StockTwits

Employees Retirement System of Texas boosted its stake in Philip Morris International Inc. (NYSE:PM) by 15.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 527,833 shares of the company’s stock after purchasing an additional 68,833 shares during the quarter. Philip Morris International comprises 0.6% of Employees Retirement System of Texas’ investment portfolio, making the stock its 26th biggest position. Employees Retirement System of Texas’ holdings in Philip Morris International were worth $42,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Philip Morris International by 4.5% during the first quarter. Wells Fargo & Company MN now owns 9,006,584 shares of the company’s stock worth $895,253,000 after acquiring an additional 389,848 shares in the last quarter. Zions Bancorporation acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $2,081,000. Trexquant Investment LP acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $5,343,000. Jacobi Capital Management LLC increased its stake in shares of Philip Morris International by 85.4% in the first quarter. Jacobi Capital Management LLC now owns 4,703 shares of the company’s stock valued at $459,000 after buying an additional 2,167 shares during the period. Finally, Wrapmanager Inc. increased its stake in shares of Philip Morris International by 16.3% in the first quarter. Wrapmanager Inc. now owns 24,035 shares of the company’s stock valued at $2,389,000 after buying an additional 3,366 shares during the period. 72.77% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. Jefferies Financial Group downgraded Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Friday, August 24th. ValuEngine downgraded Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Wednesday, July 25th. Societe Generale downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating in a research note on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Philip Morris International presently has an average rating of “Hold” and a consensus price target of $103.36.

Shares of PM stock opened at $78.62 on Friday. Philip Morris International Inc. has a one year low of $76.21 and a one year high of $119.43. The company has a market capitalization of $121.08 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.71 and a beta of 0.82. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of -2.76.

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

About Philip Morris International

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.

See Also: Technical Analysis of Stocks, How Can It Help

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply