Kornitzer Capital Management Inc. KS Sells 100 Shares of Philip Morris International Inc (PM)

Kornitzer Capital Management Inc. KS lowered its position in shares of Philip Morris International Inc (NYSE:PM) by 3.3% during the first quarter, Holdings Channel reports. The fund owned 2,950 shares of the company’s stock after selling 100 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Philip Morris International were worth $333,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $106,000. Gradient Investments LLC boosted its stake in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of Philip Morris International during the first quarter worth about $117,000. Gemmer Asset Management LLC boosted its stake in shares of Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares during the last quarter. Finally, American National Bank boosted its stake in shares of Philip Morris International by 19.8% in the first quarter. American National Bank now owns 1,737 shares of the company’s stock worth $196,000 after buying an additional 287 shares during the last quarter. 72.33% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Inc (NYSE PM) opened at 117.90 on Monday. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The stock has a market capitalization of $183.12 billion, a price-to-earnings ratio of 26.10 and a beta of 0.94. The company has a 50-day moving average of $118.52 and a 200 day moving average of $107.63.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, April 20th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.47 billion. Philip Morris International had a net margin of 9.40% and a negative return on equity of 65.44%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc will post $4.90 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd will be issued a $1.04 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $4.16 dividend on an annualized basis and a yield of 3.53%. Philip Morris International’s dividend payout ratio is currently 92.04%.

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A number of equities research analysts have issued reports on PM shares. Stifel Nicolaus reissued a “buy” rating and set a $118.00 target price on shares of Philip Morris International in a report on Sunday, April 23rd. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Wednesday, March 29th. BidaskClub cut shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Vetr raised shares of Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, June 26th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $104.00 target price on shares of Philip Morris International in a report on Friday, March 24th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $119.15.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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

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