Cowen Cuts Altria Group (NYSE:MO) Price Target to $45.00

Altria Group (NYSE:MOGet Rating) had its price objective reduced by Cowen from $56.00 to $45.00 in a research note published on Monday, Stock Target Advisor reports. They currently have a market perform rating on the stock.

A number of other research analysts have also commented on the stock. StockNews.com assumed coverage on shares of Altria Group in a research report on Thursday, March 31st. They set a buy rating for the company. Sanford C. Bernstein lowered shares of Altria Group from an outperform rating to a market perform rating and reduced their price target for the company from $58.00 to $53.00 in a research report on Tuesday, May 10th. Morgan Stanley upgraded shares of Altria Group from an underweight rating to an equal weight rating and reduced their price target for the company from $47.00 to $43.00 in a research report on Friday, June 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Altria Group from $54.00 to $60.00 in a research report on Friday, April 29th. Finally, Cowen reduced their price target on shares of Altria Group from $56.00 to $45.00 and set a market perform rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group currently has an average rating of Hold and an average price target of $49.11.

Altria Group stock opened at $41.76 on Monday. Altria Group has a 1-year low of $41.00 and a 1-year high of $57.05. The firm has a market capitalization of $75.61 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 2.24 and a beta of 0.50. The firm has a 50 day simple moving average of $51.28 and a 200 day simple moving average of $50.97.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.88 billion. Altria Group had a net margin of 11.64% and a negative return on equity of 2,506.92%. Altria Group’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. Equities research analysts anticipate that Altria Group will post 4.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 8.62%. The ex-dividend date of this dividend is Tuesday, June 14th. Altria Group’s dividend payout ratio is presently 219.51%.

Institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its stake in Altria Group by 330.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 117,915 shares of the company’s stock worth $5,588,000 after purchasing an additional 90,497 shares during the last quarter. Abacus Planning Group Inc. bought a new position in shares of Altria Group during the first quarter valued at about $227,000. Calamos Advisors LLC raised its stake in shares of Altria Group by 3.5% during the fourth quarter. Calamos Advisors LLC now owns 510,131 shares of the company’s stock valued at $24,175,000 after acquiring an additional 17,474 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Altria Group by 7.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 211,536 shares of the company’s stock valued at $10,025,000 after acquiring an additional 15,440 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. bought a new position in shares of Altria Group during the fourth quarter valued at about $763,000. 59.05% of the stock is owned by institutional investors and hedge funds.

About Altria Group (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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Analyst Recommendations for Altria Group (NYSE:MO)

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