Kentucky Retirement Systems Purchases 59,213 Shares of Altria Group, Inc. $MO

Kentucky Retirement Systems grew its position in Altria Group, Inc. (NYSE:MO) by 55.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,124 shares of the company’s stock after purchasing an additional 59,213 shares during the quarter. Kentucky Retirement Systems’ holdings in Altria Group were worth $10,897,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in Altria Group by 5.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after purchasing an additional 143 shares during the period. Johnson & White Wealth Management LLC increased its position in Altria Group by 1.2% during the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company’s stock worth $733,000 after buying an additional 154 shares during the period. Kanawha Capital Management LLC lifted its holdings in shares of Altria Group by 0.8% during the fourth quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company’s stock worth $1,127,000 after buying an additional 160 shares in the last quarter. Strategic Advisors LLC lifted its holdings in shares of Altria Group by 2.0% during the fourth quarter. Strategic Advisors LLC now owns 8,243 shares of the company’s stock worth $475,000 after buying an additional 160 shares in the last quarter. Finally, Patten Group Inc. boosted its position in shares of Altria Group by 4.0% in the first quarter. Patten Group Inc. now owns 4,165 shares of the company’s stock valued at $275,000 after acquiring an additional 160 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO opened at $75.03 on Thursday. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $77.06. The firm has a market cap of $125.30 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. The business’s fifty day moving average is $71.95 and its 200-day moving average is $68.23.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Altria Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts predict that Altria Group, Inc. will post 5.7 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Altria Group’s dividend payout ratio (DPR) is currently 88.70%.

Insider Activity

In other news, Director Ellen R. Strahlman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the transaction, the director directly owned 25,102 shares in the company, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the transaction, the director owned 73,809 shares of the company’s stock, valued at $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MO shares. Jefferies Financial Group upped their price target on shares of Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, May 27th. Citigroup lifted their price objective on shares of Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. BTIG Research initiated coverage on shares of Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $77.00 target price on shares of Altria Group in a report on Thursday, April 30th. Finally, Barclays lifted their price target on shares of Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Altria Group presently has an average rating of “Hold” and an average price target of $70.78.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.