Brandywine Managers LLC Invests $20.18 Million in Philip Morris International Inc. (NYSE:PM)

Brandywine Managers LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 207,202 shares of the company’s stock, valued at approximately $20,184,000. Philip Morris International comprises approximately 14.3% of Brandywine Managers LLC’s portfolio, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Moneta Group Investment Advisors LLC lifted its stake in shares of Philip Morris International by 100,700.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock worth $1,582,939,000 after acquiring an additional 15,624,628 shares during the last quarter. Federated Hermes Inc. raised its position in Philip Morris International by 31.7% during the 1st quarter. Federated Hermes Inc. now owns 9,036,858 shares of the company’s stock valued at $878,834,000 after purchasing an additional 2,174,242 shares in the last quarter. Perpetual Ltd bought a new stake in Philip Morris International during the 1st quarter valued at $201,779,000. Canoe Financial LP bought a new stake in Philip Morris International during the 1st quarter valued at $150,424,000. Finally, Renaissance Technologies LLC raised its position in Philip Morris International by 122.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,632,467 shares of the company’s stock valued at $247,294,000 after purchasing an additional 1,446,567 shares in the last quarter. 79.70% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $94.53 on Tuesday. Philip Morris International Inc. has a 1-year low of $82.85 and a 1-year high of $105.62. The stock’s fifty day moving average price is $96.67 and its 200 day moving average price is $96.11. The company has a market cap of $146.74 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the business earned $1.48 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PM shares. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $109.00 to $117.00 in a research report on Tuesday, June 20th. StockNews.com started coverage on Philip Morris International in a research report on Thursday, August 17th. They set a “hold” rating for the company. Jefferies Financial Group decreased their target price on Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Finally, 22nd Century Group reiterated a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.70.

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.