Robeco Institutional Asset Management B.V. Cuts Position in Philip Morris International Inc. (NYSE:PM)

Robeco Institutional Asset Management B.V. lessened its holdings in Philip Morris International Inc. (NYSE:PM – Get Rating) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,665 shares of the company’s stock after selling 5,220 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Philip Morris International were worth $16,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Fairfield Bush & CO. boosted its stake in shares of Philip Morris International by 1.1% in the 1st quarter. Fairfield Bush & CO. now owns 26,141 shares of the company’s stock worth $2,456,000 after buying an additional 281 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Philip Morris International by 35.6% in the 1st quarter. American Century Companies Inc. now owns 4,939 shares of the company’s stock worth $463,000 after buying an additional 1,296 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Philip Morris International by 24.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 3,065 shares of the company’s stock worth $288,000 after buying an additional 608 shares during the last quarter. Covestor Ltd boosted its stake in shares of Philip Morris International by 54.9% in the 1st quarter. Covestor Ltd now owns 525 shares of the company’s stock worth $49,000 after buying an additional 186 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Philip Morris International by 14.7% in the 1st quarter. Mather Group LLC. now owns 8,987 shares of the company’s stock worth $844,000 after buying an additional 1,154 shares during the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $118.00 in a research note on Thursday, January 19th. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $95.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. The Goldman Sachs Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $120.00 in a research note on Wednesday, January 25th. UBS Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $106.00 to $116.00 in a research note on Wednesday, March 1st. Finally, StockNews.com started coverage on Philip Morris International in a research note on Thursday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.73.

Insiders Place Their Bets

In other news, insider Werner Barth sold 8,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $98.35, for a total value of $786,800.00. Following the transaction, the insider now owns 87,321 shares of the company’s stock, valued at $8,588,020.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Andre Calantzopoulos sold 80,000 shares of the company’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $100.35, for a total value of $8,028,000.00. Following the transaction, the chairman now owns 1,007,048 shares of the company’s stock, valued at $101,057,266.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 8,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $98.35, for a total transaction of $786,800.00. Following the completion of the transaction, the insider now directly owns 87,321 shares in the company, valued at approximately $8,588,020.35. The disclosure for this sale can be found here. Insiders have sold a total of 117,064 shares of company stock worth $11,738,763 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $94.79 on Friday. The company has a market cap of $146.95 billion, a P/E ratio of 16.32, a P/E/G ratio of 3.10 and a beta of 0.69. The stock’s fifty day moving average price is $100.69 and its two-hundred day moving average price is $96.74. Philip Morris International Inc. has a 1 year low of $82.85 and a 1 year high of $109.81.

Philip Morris International (NYSE:PM – Get Rating) last posted its earnings results on Thursday, February 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.54 billion. Philip Morris International had a negative return on equity of 127.24% and a net margin of 11.22%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 earnings per share. On average, analysts expect that Philip Morris International Inc. will post 6.29 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Thursday, March 23rd will be given a dividend of $1.27 per share. The ex-dividend date is Wednesday, March 22nd. This represents a $5.08 annualized dividend and a dividend yield of 5.36%. Philip Morris International’s dividend payout ratio is currently 87.44%.

About Philip Morris International

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Philip Morris International, Inc is a holding company engaged in the manufacturing and sale of cigarettes, tobacco, and nicotine-containing products. Its products include cigarettes and reduced-risk products, including heat-not-burn, vapor, and oral nicotine products. The firm operates through the following geographical segments: European Union, Eastern Europe, Middle East and Africa, South and Southeast Asia, East Asia and Australia, and Americas.