Kynikos Associates Lp Lowers stake in Altria Group Inc (MO)

Altria Group Inc (MO) : Kynikos Associates Lp reduced its stake in Altria Group Inc by 24.68% during the most recent quarter end. The investment management company now holds a total of 71,997 shares of Altria Group Inc which is valued at $4,805,080 after selling 23,593 shares in Altria Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Altria Group Inc makes up approximately 1.80% of Kynikos Associates Lp’s portfolio.

Other Hedge Funds, Including , Corda Investment Management. added MO to its portfolio by purchasing 36,501 company shares during the most recent quarter which is valued at $2,436,077. Altria Group Inc makes up approx 0.03% of Corda Investment Management.’s portfolio.Baird Financial Group boosted its stake in MO in the latest quarter, The investment management firm added 23,887 additional shares and now holds a total of 200,129 shares of Altria Group Inc which is valued at $13,356,609. Altria Group Inc makes up approx 0.12% of Baird Financial Group’s portfolio.Capital Planning Advisors reduced its stake in MO by selling 700 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 70,121 shares of MO which is valued at $4,828,532. Altria Group Inc makes up approx 2.59% of Capital Planning Advisors’s portfolio.

Altria Group Inc closed down -0.48 points or -0.71% at $66.72 with 4,253,542 shares getting traded on Wednesday. Post opening the session at $67.12, the shares hit an intraday low of $66.5 and an intraday high of $67.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Altria Group Inc reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.80. The company had revenue of $6521.00 million for the quarter, compared to analysts expectations of $5013.61 million. The company’s revenue was down -1.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.74 EPS.

Investors should note that on Aug 25, 2016, Altria Group Inc announced a cash dividend of $0.6100. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 11, 2016.

Many Wall Street Analysts have commented on Altria Group Inc. Company shares were Reiterated by Stifel on Jun 27, 2016 to “Buy”, Firm has raised the Price Target to $ 71 from a previous price target of $65 .Berenberg Initiated Altria Group Inc on Jun 14, 2016 to “Buy”, Price Target of the shares are set at $74.

Altria Group Inc. is a holding company. The Company’s reportable segments include smokeable products smokeless products and wine. As of December 31 2014 Altria Group Inc.’s wholly owned subsidiaries included Philip Morris USA Inc. (PM USA) which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (Middleton) which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA and UST LLC (UST) which through its wholly owned subsidiaries including U.S. Smokeless Tobacco Company LLC (USSTC) and Ste. Michelle Wine Estates Ltd. (Ste. Michelle) is engaged in the manufacture and sale of smokeless products and wine.

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