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

Kentucky Retirement Systems boosted its holdings in Altria Group, Inc. (NYSE:MO) by 55.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,124 shares of the company’s stock after buying an additional 59,213 shares during the quarter. Kentucky Retirement Systems’ holdings in Altria Group were worth $10,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in shares of Altria Group in the second quarter worth about $27,000. Navalign LLC bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $29,000. Miller Capital Partners Inc. bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $29,000. Finally, Hughes Financial Services LLC increased its position in Altria Group by 62.9% during the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ellen R. Strahlman sold 2,000 shares of the business’s stock in a transaction 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 sale, the director owned 25,102 shares of the company’s stock, valued at $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

Altria Group Price Performance

Altria Group stock opened at $75.03 on Thursday. The business has a 50 day moving average of $71.95 and a 200-day moving average of $68.23. The company has a market capitalization of $125.30 billion, a P/E ratio of 15.70, a P/E/G ratio of 2.70 and a beta of 0.45. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $77.06.

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

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, June 15th. Altria Group’s payout ratio is 88.70%.

Wall Street Analyst Weigh In

MO has been the subject of several research reports. BTIG Research assumed coverage on shares of Altria Group in a research note on Tuesday, July 21st. They issued a “neutral” rating for the company. Jefferies Financial Group boosted their target price on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $77.00 price target on shares of Altria Group in a report on Thursday, April 30th. Barclays increased their price target on Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Finally, UBS Group raised their price objective on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company 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.