Renasant Bank Trims Stake in Philip Morris International Inc. (NYSE:PM)

Renasant Bank lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,931 shares of the company’s stock after selling 424 shares during the period. Renasant Bank’s holdings in Philip Morris International were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. NewSquare Capital LLC lifted its stake in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Valley Wealth Managers Inc. raised its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares during the period. Dunhill Financial LLC lifted its stake in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International during the 4th quarter valued at about $33,000. Finally, Knuff & Co LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. This represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Emmanuel Babeau sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.85, for a total transaction of $4,465,500.00. Following the transaction, the chief financial officer now owns 139,105 shares in the company, valued at approximately $20,705,779.25. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock worth $19,655,585 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PM shares. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday. Barclays upped their price objective on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Price Performance

Shares of NYSE PM opened at $151.95 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $159.51. The company has a market capitalization of $236.26 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The business has a 50-day moving average of $139.10 and a two-hundred day moving average of $130.08.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.55%. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.