TheStreet downgraded shares of Altria Group (NYSE:MO) from a b- rating to a c+ rating in a research report released on Wednesday, TheStreetRatingsTable reports.
MO has been the subject of several other reports. Morgan Stanley dropped their target price on shares of Altria Group from $48.00 to $44.00 and set an underweight rating for the company in a research report on Wednesday, August 7th. ValuEngine lowered shares of Altria Group from a hold rating to a sell rating in a research report on Wednesday, May 29th. Goldman Sachs Group downgraded shares of Altria Group from a buy rating to a neutral rating and set a $49.86 price target on the stock. in a research note on Friday, July 12th. Citigroup set a $45.00 price target on shares of Altria Group and gave the stock a sell rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada set a $68.00 price target on shares of Altria Group and gave the stock a buy rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $60.74.
MO stock opened at $46.48 on Wednesday. The firm has a 50 day moving average of $48.38 and a 200-day moving average of $51.54. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. Altria Group has a 12 month low of $42.40 and a 12 month high of $66.04. The firm has a market capitalization of $85.69 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the business posted $1.01 earnings per share. Altria Group’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts predict that Altria Group will post 4.17 EPS for the current year.
Altria Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Grimes & Company Inc. boosted its holdings in Altria Group by 9.3% in the first quarter. Grimes & Company Inc. now owns 8,387 shares of the company’s stock valued at $481,000 after acquiring an additional 717 shares in the last quarter. FMR LLC boosted its holdings in shares of Altria Group by 68.1% during the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock valued at $4,520,337,000 after buying an additional 31,883,878 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Altria Group by 78.2% during the 1st quarter. Clearbridge Investments LLC now owns 347,017 shares of the company’s stock valued at $19,929,000 after buying an additional 152,302 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in shares of Altria Group by 15.4% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 54,949 shares of the company’s stock valued at $3,156,000 after buying an additional 7,339 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at $2,502,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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