Mackenzie Financial Corp Lowers Stock Holdings in Altria Group, Inc. $MO

Mackenzie Financial Corp reduced its position in Altria Group, Inc. (NYSE:MO) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,207,576 shares of the company’s stock after selling 5,851 shares during the quarter. Mackenzie Financial Corp’s holdings in Altria Group were worth $129,430,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Altria Group by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares during the last quarter. TigerOak Management L.L.C. grew its position in Altria Group by 43.0% during the 2nd quarter. TigerOak Management L.L.C. now owns 13,005 shares of the company’s stock valued at $762,000 after purchasing an additional 3,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Altria Group during the 2nd quarter valued at about $126,471,000. Central Valley Advisors LLC bought a new stake in Altria Group during the 2nd quarter valued at about $1,715,000. Finally, Invst LLC raised its holdings in Altria Group by 252.0% in the first quarter. Invst LLC now owns 16,188 shares of the company’s stock worth $972,000 after buying an additional 11,589 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a report on Thursday, August 21st. Bank of America upped their price objective on Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. The Goldman Sachs Group increased their target price on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Finally, Barclays upped their price target on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $62.33.

Altria Group Trading Up 0.5%

Shares of MO stock opened at $58.98 on Friday. Altria Group, Inc. has a 12-month low of $50.08 and a 12-month high of $68.60. The firm’s 50 day moving average is $61.86 and its 200 day moving average is $61.79. The stock has a market capitalization of $99.01 billion, a P/E ratio of 11.41, a P/E/G ratio of 3.45 and a beta of 0.51.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.31 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group declared that its board has authorized a share repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.