Beese Fulmer Investment Management Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Beese Fulmer Investment Management reduced its stake in Philip Morris International by 1.13% during the most recent quarter end. The investment management company now holds a total of 76,597 shares of Philip Morris International which is valued at $7,585,401 after selling 875 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Philip Morris International makes up approximately 2.11% of Beese Fulmer Investment Management’s portfolio.

Other Hedge Funds, Including , Uss Investment Management Ltd reduced its stake in PM by selling 4,700 shares or 7.04% in the most recent quarter. The Hedge Fund company now holds 62,046 shares of PM which is valued at $6,144,415. Philip Morris International makes up approx 0.10% of Uss Investment Management Ltd’s portfolio.Ruane Cunniff Goldfarb Inc reduced its stake in PM by selling 83,484 shares or 92.9% in the most recent quarter. The Hedge Fund company now holds 6,385 shares of PM which is valued at $657,655. Philip Morris International makes up approx 0.01% of Ruane Cunniff Goldfarb Inc’s portfolio.Northstar Group reduced its stake in PM by selling 1,089 shares or 11.89% in the most recent quarter. The Hedge Fund company now holds 8,073 shares of PM which is valued at $833,457. Philip Morris International makes up approx 0.61% of Northstar Group’s portfolio.

Philip Morris International closed down -0.03 points or -0.03% at $99 with 38,73,704 shares getting traded on Thursday. Post opening the session at $99.36, the shares hit an intraday low of $98.9 and an intraday high of $99.55 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Philip Morris International reported $1.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.19. The company had revenue of $6649.00 million for the quarter, compared to analysts expectations of $6772.05 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.

Many Wall Street Analysts have commented on Philip Morris International. Philip Morris International was Upgraded by JP Morgan to ” Overweight” on Jun 17, 2016.

Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in more than 180 markets which include a range of international and local premium mid-price and low-price brands. Its premium price brands include Marlboro Merit Parliament and Virginia Slims; mid-price brands are L&M and Chesterfield and international brands include Bond Street Lark Muratti Next Philip Morris and Red & White. Its local cigarette brands consist of Sampoerna Dji Sam Soe and U Mild in Indonesia; Fortune Champion and Hope in the Philippines; Diana in Italy; Optima and Apollo-Soyuz in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont Canadian Classics and Number 7 in Canada; Best and Classic in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece and Petra in the Czech Republic and Slovakia.

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