Philip Morris International Inc. (NYSE:PM) Sees Significant Decrease in Short Interest

Philip Morris International Inc. (NYSE:PM) was the target of a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 8,750,000 shares, a decrease of 23.6% from the November 14th total of 11,450,000 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 5,690,000 shares, the days-to-cover ratio is currently 1.5 days.

Shares of NYSE:PM opened at $84.67 on Friday. The stock’s 50-day moving average price is $83.10 and its 200-day moving average price is $80.05. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74. The stock has a market capitalization of $132.00 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.01.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.08. The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. Philip Morris International’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, research analysts expect that Philip Morris International will post 5.18 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 19th will be issued a dividend of $1.17 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 5.53%. Philip Morris International’s dividend payout ratio is currently 91.76%.

PM has been the topic of a number of research analyst reports. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the company a “sell” rating in a research note on Wednesday, August 28th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Bank of America raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, October 1st. Wells Fargo & Co reduced their price objective on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Philip Morris International currently has a consensus rating of “Hold” and a consensus price target of $92.27.

Institutional investors have recently bought and sold shares of the company. Titan Capital Management LLC CA purchased a new stake in shares of Philip Morris International during the second quarter worth about $30,000. Strategic Blueprint LLC purchased a new stake in shares of Philip Morris International during the third quarter worth about $30,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Philip Morris International during the second quarter worth about $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Philip Morris International during the third quarter worth about $37,000. Finally, Prestige Wealth Management Group LLC purchased a new stake in shares of Philip Morris International during the second quarter worth about $38,000. Institutional investors own 73.17% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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