Wellington Management Group LLP and Kovitz Investment Group Partners LLC have reduced their holdings in Philip Morris International (PM), while Benjamin Edwards Inc, Redwood Investment Management LLC, and ING Groep NV have increased their stake. PM has displayed a strong performance with a 21% gain in Q3, surging to an all-time high due to strong quarterly earnings. The company's IQOS, a smoke-free product, reached a revenue milestone of $10B on its 10th anniversary. Despite this, its returns on capital are not reflecting well on the business.
PM's smoke-free products have driven record revenues and its Q3 outlook predicts strong growth despite challenges. The company has increased its dividend by 3.8% to an annualized rate of $5.40 per share. Its intrinsic value is potentially 86% above its share price. However, PM insiders have sold $42m worth of shares, suggesting hesitancy. PM's Swedish Match affiliate is adding 450 jobs with a $232 million investment in Kentucky. The company's stock has experienced a 70% rise, and its nicotine pouch sales have seen a 50.6% increase, driven by ZYN.
Philip Morris International PM News Analytics from Fri, 07 Jun 2024 07:00:00 GMT to Sat, 07 Dec 2024 14:47:55 GMT - Rating 7 - Innovation -1 - Information 8 - Rumor -5
