Philip Morris International Inc. (NYSE:PM) Short interest down 23.0% in July

Philip Morris International Inc. (NYSE: PM – Get a rating) was the target of a significant drop in short interest in the month of July. As of July 15, there was short interest totaling 7,320,000 shares, a decrease of 23.0% from the June 30 total of 9,510,000 shares. Based on an average daily volume of 5,430,000 shares, the short interest ratio is currently 1.3 days. Approximately 0.5% of the company’s shares are sold short.

Performance of Philip Morris International Shares

PM traded at $1.36 on Monday, hitting $98.51. The company had a trading volume of 93,291 shares, compared to an average volume of 6,100,795. Philip Morris International has a fifty-two week low of $85.64 and a fifty-two week high of $112.48 . The stock has a market capitalization of $152.70 billion, a P/E ratio of 16.69, a P/E/G ratio of 3.84 and a beta of 0.62. The company’s fifty-day moving average is $99.31 and its 200-day moving average is $100.23.

Philip Morris International (NYSE:PM – Get a rating) last released its quarterly results on Thursday, July 21. The company reported earnings per share of $1.48 for the quarter, beating analyst consensus estimates of $1.26 by $0.22. The company posted revenue of $7.83 billion in the quarter, versus a consensus estimate of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company’s quarterly revenue fell 0.1% year over year. In the same quarter a year earlier, the company posted EPS of $1.57. On average, sell-side analysts expect Philip Morris International to post EPS of 5.56 for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $1.25 per share. This represents a dividend of $5.00 on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Thursday, June 30. Philip Morris International’s dividend payout ratio is currently 85.91%.

Analysts set new price targets

Several analysts have published reports on the company. upgraded Philip Morris International from a “hold” rating to a “buy” rating in a Tuesday, July 26 research note. Morgan Stanley raised its price target on Philip Morris International from $104.00 to $112.00 and gave the company an “overweight” rating in a Friday, April 22 research note. Bank of America raised its target price on Philip Morris International from $107.00 to $117.00 in a Sunday, April 24 report. Finally, Jefferies Financial Group cut its price target on Philip Morris International from $107.00 to $99.00 in a Tuesday, July 19 report. Three research analysts gave the stock a hold rating and five gave the stock a buy rating. According to, the company currently has an average rating of “Moderate Buy” and an average target price of $110.33.

Institutional entries and exits

A number of hedge funds have recently changed their positions in PM. Allspring Global Investments Holdings LLC acquired a new position in Philip Morris International during the fourth quarter worth approximately $49,279,000. Osborne Partners Capital Management LLC increased its stake in Philip Morris International by 8.9% during the 4th quarter. Osborne Partners Capital Management LLC now owns 2,723 shares of the company valued at $259,000 after purchasing an additional 222 shares in the last quarter. DA Davidson & CO. increased its stake in Philip Morris International by 3.2% during the 4th quarter. DA Davidson & CO. now owns 78,930 shares of the company valued at $7,493,000 after purchasing an additional 2,462 shares in the last quarter. Teamwork Financial Advisors LLC increased its stake in Philip Morris International by 401.1% during the 4th quarter. Teamwork Financial Advisors LLC now owns 12,492 shares of the company valued at $1,187,000 after purchasing an additional 9,999 shares in the last quarter. Finally, CWM LLC purchased a new equity stake in Philip Morris International during Q4 valued at approximately $1,425,000. 74.78% of the shares are currently held by institutional investors and hedge funds.

About Philip Morris International

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Philip Morris International Inc operates as a tobacco company working to deliver a smoke-free future and a long-term scalable portfolio to include products outside of the tobacco and nicotine industry. The Company’s product portfolio consists primarily of cigarettes and smokeless products, including non-combustion heat, vapor and oral nicotine products that are sold in markets outside of the United States.

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