Carlson Capital Management buys $289,231 stake in Philip Morris International (PM)

Philip Morris International (PM) : Carlson Capital Management scooped up 2 additional shares in Philip Morris International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 3,005 shares of Philip Morris International which is valued at $289,231.Philip Morris International makes up approximately 0.10% of Carlson Capital Management’s portfolio.

Other Hedge Funds, Including , Vontobel Asset Management Inc reduced its stake in PM by selling 1,015,805 shares or 13.15% in the most recent quarter. The Hedge Fund company now holds 6,709,752 shares of PM which is valued at $645,813,630. Philip Morris International makes up approx 5.12% of Vontobel Asset Management Inc’s portfolio.First Mercantile Trust Co reduced its stake in PM by selling 300 shares or 4.05% in the most recent quarter. The Hedge Fund company now holds 7,100 shares of PM which is valued at $681,742. Philip Morris International makes up approx 0.09% of First Mercantile Trust Co’s portfolio.Burns J W Co Incny reduced its stake in PM by selling 558 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 47,233 shares of PM which is valued at $4,519,253. Philip Morris International makes up approx 1.40% of Burns J W Co Incny’s portfolio.North Star Asset Management Inc reduced its stake in PM by selling 3,900 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 76,863 shares of PM which is valued at $7,354,252. Philip Morris International makes up approx 0.83% of North Star Asset Management Inc’s portfolio.Beacon Financial Group reduced its stake in PM by selling 11,981 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 144,351 shares of PM which is valued at $13,811,504. Philip Morris International makes up approx 2.91% of Beacon Financial Group’s portfolio.

Philip Morris International closed down -0.73 points or -0.76% at $95.52 with 46,11,431 shares getting traded on Tuesday. Post opening the session at $96.2, the shares hit an intraday low of $95.15 and an intraday high of $96.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Jefferies Initiated Philip Morris International on Sep 21, 2016 to “Hold”, Price Target of the shares are set at $96.Philip Morris International was Initiated by Citigroup to “Neutral” on Sep 13, 2016. Philip Morris International was Upgraded by Goldman to ” Buy” on Sep 12, 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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