Callodine Capital Management LP Has $26.01 Million Stock Holdings in Altria Group, Inc. $MO

Callodine Capital Management LP increased its position in Altria Group, Inc. (NYSE:MO) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 393,705 shares of the company’s stock after purchasing an additional 49,143 shares during the quarter. Altria Group makes up 2.3% of Callodine Capital Management LP’s holdings, making the stock its 18th largest position. Callodine Capital Management LP’s holdings in Altria Group were worth $26,008,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Kercheville Advisors LLC raised its stake in Altria Group by 3.7% in the third quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock valued at $290,000 after buying an additional 156 shares during the period. Founders Grove Wealth Partners LLC boosted its stake in shares of Altria Group by 2.9% during the 3rd quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock worth $382,000 after acquiring an additional 165 shares during the period. Generali Asset Management SPA SGR increased its holdings in shares of Altria Group by 0.3% during the 3rd quarter. Generali Asset Management SPA SGR now owns 50,805 shares of the company’s stock worth $3,356,000 after acquiring an additional 170 shares during the last quarter. Zullo Investment Group Inc. increased its holdings in shares of Altria Group by 2.4% during the 3rd quarter. Zullo Investment Group Inc. now owns 7,386 shares of the company’s stock worth $488,000 after acquiring an additional 175 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Altria Group by 0.9% in the 3rd quarter. Blue Trust Inc. now owns 19,819 shares of the company’s stock valued at $1,309,000 after acquiring an additional 179 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

MO opened at $67.96 on Friday. The business has a fifty day simple moving average of $64.21 and a 200 day simple moving average of $62.64. Altria Group, Inc. has a 1 year low of $52.82 and a 1 year high of $70.51. The company has a market capitalization of $113.62 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.45.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same period in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Insiders Place Their Bets

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MO. UBS Group raised their price target on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Jefferies Financial Group increased their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Citigroup lifted their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Stifel Nicolaus decreased their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.11.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.