Citigroup Forecasts Strong Price Appreciation for Philip Morris International (NYSE:PM) Stock

Philip Morris International (NYSE:PM) had its price objective upped by stock analysts at Citigroup from $163.00 to $180.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 10.38% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $160.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Barclays increased their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.78.

Philip Morris International Price Performance

PM stock opened at $163.08 on Wednesday. Philip Morris International has a 1 year low of $90.65 and a 1 year high of $165.00. The firm has a market capitalization of $253.83 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. The business has a 50 day simple moving average of $153.50 and a 200-day simple moving average of $135.62.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts expect that Philip Morris International will post 7.14 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jacek Olczak sold 40,000 shares of Philip Morris International stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the transaction, the chief executive officer now owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the sale, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock valued at $19,655,585 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Range Financial Group LLC lifted its holdings in Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after buying an additional 19,127 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Philip Morris International by 18.9% during the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after purchasing an additional 16,035 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after purchasing an additional 6,605 shares in the last quarter. Ritholtz Wealth Management increased its stake in Philip Morris International by 50.9% in the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock valued at $6,485,000 after purchasing an additional 18,183 shares during the last quarter. Finally, Czech National Bank raised its holdings in Philip Morris International by 6.4% during the fourth quarter. Czech National Bank now owns 337,119 shares of the company’s stock worth $40,572,000 after purchasing an additional 20,390 shares in the last quarter. Institutional investors and hedge funds own 78.63% 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.