Philip Morris International Inc. (NYSE:PM) Sees Significant Drop in Short Interest

Philip Morris International Inc. (NYSE:PM) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 9,210,000 shares, a decrease of 19.1% from the December 31st total of 11,390,000 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 4,990,000 shares, the days-to-cover ratio is currently 1.8 days.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $0.12 during trading hours on Thursday, hitting $129.71. The stock had a trading volume of 244,246 shares, compared to its average volume of 4,732,917. Philip Morris International has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a market capitalization of $201.67 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.01 and a beta of 0.54. The stock’s fifty day simple moving average is $125.24 and its 200 day simple moving average is $122.63.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PM. American Century Companies Inc. boosted its stake in shares of Philip Morris International by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 8,701 shares of the company’s stock worth $882,000 after acquiring an additional 1,715 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Philip Morris International by 24.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 5,077 shares of the company’s stock worth $514,000 after buying an additional 1,009 shares in the last quarter. EP Wealth Advisors LLC increased its position in Philip Morris International by 4.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 23,692 shares of the company’s stock worth $2,401,000 after purchasing an additional 946 shares during the last quarter. Advisory Alpha LLC increased its stake in shares of Philip Morris International by 9.9% during the 2nd quarter. Advisory Alpha LLC now owns 4,030 shares of the company’s stock worth $408,000 after purchasing an additional 363 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $203,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PM has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. UBS Group raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Barclays reduced their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $131.35.

About Philip Morris International

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.