Altria Group, Inc. (NYSE:MO) is Canal Capital Management LLC’s 6th Largest Position

Canal Capital Management LLC lifted its position in Altria Group, Inc. (NYSE:MO) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,368 shares of the company’s stock after buying an additional 585 shares during the period. Altria Group makes up about 2.4% of Canal Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Canal Capital Management LLC’s holdings in Altria Group were worth $14,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group in the fourth quarter worth $29,000. Marshall Investment Management LLC purchased a new position in Altria Group during the fourth quarter valued at $32,000. Finally, Promus Capital LLC purchased a new stake in Altria Group in the 4th quarter worth $33,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research note on Tuesday, April 1st. Morgan Stanley dropped their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, UBS Group boosted their target price on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Altria Group Stock Performance

NYSE MO opened at $58.13 on Monday. The company has a market capitalization of $98.27 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company’s 50-day simple moving average is $56.68 and its two-hundred day simple moving average is $54.30. Altria Group, Inc. has a one year low of $42.02 and a one year high of $60.18.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. Altria Group’s dividend payout ratio is currently 62.29%.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.