Credit Agricole SA Trims Altria Group (MO) Target Price to $68.00
Altria Group (NYSE:MO) had its price target decreased by Credit Agricole SA from $69.00 to $68.00 in a research report report published on Thursday. Credit Agricole SA currently has an outperform rating on the stock.
MO has been the topic of a number of other research reports. Zacks Investment Research lowered Altria Group from a buy rating to a hold rating in a research report on Monday, July 4th. Vetr raised Altria Group from a buy rating to a strong-buy rating and set a $72.13 price objective on the stock in a research report on Wednesday, May 25th. Citigroup Inc. started coverage on Altria Group in a research report on Monday, September 12th. They set a buy rating and a $72.00 price objective on the stock. Berenberg Bank started coverage on Altria Group in a research report on Tuesday, June 14th. They set a buy rating and a $74.00 price objective on the stock. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $71.00 price objective (up previously from $65.00) on shares of Altria Group in a research report on Monday, June 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Altria Group currently has a consensus rating of Buy and a consensus target price of $69.41.
Altria Group (NYSE:MO) opened at 62.97 on Thursday. The stock has a market cap of $123.04 billion, a price-to-earnings ratio of 21.86 and a beta of 0.48. Altria Group has a 52 week low of $53.68 and a 52 week high of $70.15. The company has a 50-day moving average price of $65.74 and a 200-day moving average price of $64.93.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 earnings per share. Equities research analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.87%. The ex-dividend date is Tuesday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is currently 84.72%.
In other news, SVP James E. Dillard III sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC boosted its stake in shares of Altria Group by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 47,578 shares of the company’s stock worth $3,281,000 after buying an additional 1,144 shares during the last quarter. Williams Jones & Associates LLC boosted its stake in shares of Altria Group by 5.3% in the second quarter. Williams Jones & Associates LLC now owns 21,725 shares of the company’s stock worth $1,498,000 after buying an additional 1,098 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Altria Group during the second quarter worth approximately $5,447,000. Kentucky Retirement Systems acquired a new stake in shares of Altria Group during the second quarter worth approximately $11,473,000. Finally, KAMES CAPITAL plc boosted its stake in shares of Altria Group by 270.6% in the second quarter. KAMES CAPITAL plc now owns 43,673 shares of the company’s stock worth $3,012,000 after buying an additional 31,890 shares during the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s subsidiaries include 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 UST LLC (UST), which through its subsidiaries, including U.S.
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