Burgundy Asset Management Ltd. Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Burgundy Asset Management Ltd. reduced its stake in Philip Morris International by 9.91% during the most recent quarter end. The investment management company now holds a total of 3,426,914 shares of Philip Morris International which is valued at $345.7 Million after selling 377,126 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on May 11, 2016.Philip Morris International makes up approximately 3.61% of Burgundy Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Seizert Capital Partners reduced its stake in PM by selling 6 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 16,614 shares of PM which is valued at $1.7 Million. Philip Morris International makes up approx 0.06% of Seizert Capital Partners’s portfolio.Bahl Gaynor Inc boosted its stake in PM in the latest quarter, The investment management firm added 527,194 additional shares and now holds a total of 1,012,860 shares of Philip Morris International which is valued at $102.2 Million. Philip Morris International makes up approx 1.36% of Bahl Gaynor Inc’s portfolio.Investment Partners Ltd Oh Adv boosted its stake in PM in the latest quarter, The investment management firm added 2,347 additional shares and now holds a total of 4,762 shares of Philip Morris International which is valued at $480,438. Philip Morris International makes up approx 0.30% of Investment Partners Ltd Oh Adv’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in PM in the latest quarter, The investment management firm added 830 additional shares and now holds a total of 59,410 shares of Philip Morris International which is valued at $6 Million. Philip Morris International makes up approx 0.40% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Inspirion Wealth Advisors added PM to its portfolio by purchasing 2,192 company shares during the most recent quarter which is valued at $215,079. Philip Morris International makes up approx 0.15% of Inspirion Wealth Advisors’s portfolio.

Philip Morris International opened for trading at $100.84 and hit $101.94 on the upside on Monday, eventually ending the session at $101.71, with a gain of 0.81% or 0.82 points. The heightened volatility saw the trading volume jump to 30,01,057 shares. Company has a market cap of $157,779 M.

On the company’s financial health, Philip Morris International reported $0.98 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $1.11. The company had revenue of $6083.00 million for the quarter, compared to analysts expectations of $6280.03 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.

Many Wall Street Analysts have commented on Philip Morris International. Philip Morris International was Upgraded by Societe Generale to ” Hold” on Apr 21, 2016. Philip Morris International was Upgraded by BofA/Merrill to ” Buy” on Mar 24, 2016. Philip Morris International was Upgraded by Exane BNP Paribas to ” Outperform” on Mar 8, 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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