Chicago Capital LLC Invests $209,000 in Philip Morris International Inc. (NYSE:PM)

Chicago Capital LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,061 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors boosted its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors boosted its holdings in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after buying an additional 77,820 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $125.81 on Friday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $127.45. The stock has a market cap of $195.58 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.41 and a beta of 0.55. The firm has a fifty day moving average of $113.87 and a 200-day moving average of $102.32.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the company posted $1.60 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PM. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays increased their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.70.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Company 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.