Mackenzie Financial Corp Lowers Stake in Altria Group, Inc. $MO

Mackenzie Financial Corp lessened its position in Altria Group, Inc. (NYSE:MO) by 78.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,817 shares of the company’s stock after selling 1,732,759 shares during the period. Mackenzie Financial Corp’s holdings in Altria Group were worth $31,366,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of Altria Group during the 2nd quarter worth $27,000. Country Trust Bank boosted its holdings in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Anfield Capital Management LLC grew its position in shares of Altria Group by 334.7% in the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after purchasing an additional 415 shares during the period. Winnow Wealth LLC purchased a new stake in shares of Altria Group in the second quarter valued at $35,000. Finally, WFA of San Diego LLC acquired a new position in Altria Group in the second quarter valued at $39,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $67.63 on Friday. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $70.51. The company has a market capitalization of $113.07 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.83 and a beta of 0.45. The business has a 50-day moving average of $64.00 and a 200-day moving average of $62.63.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. Research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be paid a dividend of $1.06 per share. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Argus upgraded Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Barclays lifted their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Jefferies Financial Group upped their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus cut their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, UBS Group raised their target price on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $65.11.

Altria Group 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.