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Bridgewater Associates LP Has $57.81 Million Stock Holdings in Altria Group, Inc. (MO)
By: MarketBeat | November 25, 2023
• Bridgewater Associates LP lifted its stake in Altria Group, Inc. (NYSE:MO) by 18.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,276,258 shares of the company's stock after purchasing an additional 200,981 shares during the quarter. Bridgewater Associates LP owned 0.07% of Altria Group worth $57,814,000 as of its most recent filing with the Securities & Exchange Commission...
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Altria Group sees insider buying amid concerns over growth consistency
By: Investing | November 12, 2023
An analysis of Altria Group , Inc. (NYSE:MO) has highlighted a blend of optimism and caution among investors and analysts. The company, known for its significant institutional ownership, with 60% of its shares held by institutions, has recently witnessed insider buying that suggests a positive outlook on its future performance.
The top 25 shareholders, including prominent names such as The Vanguard Group, Inc., Capital Research and Management Company, and BlackRock (NYSE:BLK), Inc., collectively control 42% of Altria Group. Despite this substantial institutional presence, there is no single dominant shareholder exerting control over the company.
On the insider front, ownership may be less than 1%, but recent activities show board members are collectively investing in the company's potential, owning about $49 million in shares. This insider buying is often interpreted as confidence in the company's strategic direction and future earnings prospects.
Additionally, the general public maintains a significant interest in Altria Group, holding 40% of the company's shares. This diverse shareholder base contributes to a robust market for the company's stock.
However, analysts are paying close attention to risks associated with 'crowded trades.' This concern arises when multiple institutions own large portions of a company's stock. If sentiment shifts negatively, these institutions may attempt to exit their positions quickly, leading to a rapid sell-off that can negatively impact the stock price. For Altria Group, with its lack of a history of consistent growth, this risk is particularly noteworthy.
The company's future is being closely watched by analysts who provide coverage and forecasts that are vital for investors to gauge Altria Group's prospects. Nonetheless, investors have been cautioned about one specific warning sign related to Altria Group. While details of this risk were not disclosed, it underscores the importance of due diligence and consideration of potential pitfalls when making investment decisions in the company.
In summary, while insider buying at Altria Group may indicate a positive sentiment from those closest to the company's operations, investors are advised to weigh this against the broader context of the company's performance history and potential risks highlighted by analysts.
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Altria Group (MO) cuts profit forecast as smokers swap to cheaper brands
By: Investing | October 26, 2023
(Reuters) - Tobacco giant Altria Group (NYSE:MO) cut its annual profit forecast on Thursday as more smokers swapped its higher priced cigarettes for cheaper brands or smoking alternatives, sending the Marlboro maker's shares lower.
The company said it now expects adjusted profit of $4.91 to $4.98 per share this year, compared with a previous forecast of $4.89 to $5.03 per share.
Altria has been hiking prices of its traditional products to offset volume declines as many consumers, wary of health risks, opt for new options like vapes or oral nicotine.
But price increases hit Marlboro's market share, Altria said, as inflation-weary consumers try to conserve cash by switching to cheaper brands like USA Gold.
Net revenues from smokeable products fell 5.3% in the third quarter, as higher pricing only partially offset lower shipment volumes and higher promotional investments.
Chief Executive Billy Gifford noted Altria's cigarette business remained "highly profitable", providing fuel for the company's switch to smoking alternatives.
Altria's shares fell around 2% in pre-market trade.
Rae Maile, analyst at Panmure Gordon, said Altria was still effectively leveraging its ability to raise prices to maintain revenues and profit.
"The model is not broken," he said, adding Altria's profits remained at similar levels to last year despite volume declines.
Altria is also continuing its push into smoking alternatives, following a disastrous foray into e-cigarettes via its 2018 investment in Juul Labs, which lost it billions of dollars.
It made a new bet via the acquisition of pod-based vape NJOY ACE in June, but NJOY lags far behind Juul in terms of market share. Altria said the reported shipment volume for NJOY ACE in the third quarter was about 7.5 million pods.
Analysts at Jefferies said the scant progress update on NJOY, combined with the slowdown in traction of its nicotine pouch product on!, meant the market may not view this as a good quarter for Altria.
A 36.7% increase in on! shipment volumes helped offset a decline in traditional moist-cut oral tobacco, but fell short of the 47.8% growth seen in the second quarter.
Overall, Altria's third quarter revenues net of excise taxes of $5.28 billion were also slightly behind analyst expectations, according to LSEG data.
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Altria's NJOY sues 34 e-vapor product makers, seeks damages
By: Investing | October 19, 2023
(Reuters) - Marlboro maker Altria Group (NYSE:MO) on Thursday said its e-cigarette brand NJOY had filed a suit seeking an injunction against a number of companies manufacturing and selling allegedly illicit e-vapor products in the United States.
The lawsuit, filed in a California court, claimed the products marketed by 34 foreign and domestic companies - including brands such as Elf Bar, Esco Bar and Puff Bar - violated the state's flavor ban law and "illegally competed" against companies that complied with state and federal laws.
NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, sought a nationwide injunction against the import, marketing and sale of these products, along with compensatory and punitive damages. It also said it might add more makers of vapor products to the complaint.
The move echoes a similar complaint by British American Tobacco (NYSE:BTI) last week to the U.S. International Trade Commission, alleging several manufacturers and retailers of popular disposable vapes were engaged in unfair imports. It also underscores some industry players' concerns about weak enforcement of the rules governing disposable vapes.
The U.S. Food and Drug Administration (FDA) has struggled to combat a surge in disposable vaping brands, some of which are being sold illegally, yet have come to dominate the market.
Last December, the U.S. Supreme Court had allowed California to enforce a voter-approved ban on flavored tobacco products in America's most populous state, denying a bid by a unit of British American Tobacco to block it on the grounds that the policy conflicted with federal laws.
Many other states have restricted flavored vaping products and several U.S. municipalities have adopted their own bans.
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Why 6 of the Highest-Yielding S&P 500 Stocks May Be the Best Q4 Bets Now
By: 24/7 Wall St. | October 11, 2023
• Altria
This maker of tobacco products offers value investors a great entry point now as it has been hit as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of Philip Morris USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.
Altria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer, which some feel is worth more than $10 billion and may be a segment of the company that could be sold. Given the public relations issues the company has faced this year, it could very well be on the chopping board. (See which 19 companies were caught trying to manipulate the free market.)
The company has increased its dividend for 52 consecutive years and announced another increase effective October 10, when the dividend went to $0.98 per share from $0.94.
Shareholders now receive a 9.18% dividend. Jefferies has a $55 target price, while the consensus target is $48.89. Altria stock closed on Tuesday at $42.49.
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FCF Advisors LLC Purchases 9,493 Shares of Altria Group, Inc. (MO)
By: MarketBeat | September 29, 2023
• FCF Advisors LLC lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,608 shares of the company's stock after acquiring an additional 9,493 shares during the quarter. Altria Group makes up about 1.2% of FCF Advisors LLC's investment portfolio, making the stock its 14th largest position. FCF Advisors LLC's holdings in Altria Group were worth $2,383,000 at the end of the most recent reporting period...
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Altria's attractive dividend yield faces challenges amid declining cigarette sales
By: Investing.com | September 28, 2023
The consumer staples company, Altria (NYSE:MO), well-known for its high dividend yield of 9.37%, has been under scrutiny as the long-term sustainability of its business model comes into question. The company's dividend, which has been increased annually for 54 consecutive years, is currently safe with a payout ratio of about 100% and a cash dividend payout ratio of roughly 80%. However, the declining volume of cigarette sales poses a significant challenge to Altria's business.
Altria's Marlboro, the largest cigarette brand in the U.S., holds a substantial 42% market share. Despite this dominance, the company's cigarette business is experiencing a long-term secular decline, with smoking habits becoming increasingly less popular. In Q2 2023, Altria sold approximately 21 billion cigarettes, down from nearly 23 billion in the same quarter of the previous year — an 8% decline in volume. This trend isn't new; over the past five years, since Q2 2018, the company's volume has fallen by almost 25%, from around 27.7 billion cigarettes.
To maintain its growing dividend amidst falling sales, Altria has been increasing cigarette prices. However, this strategy may not be sustainable in the long term as it risks exacerbating volume decline. The company's attempts to diversify into marijuana and vaping have so far not been successful. Although Altria recently purchased NJOY in another attempt to break into the vaping market, past failures warrant caution from investors.
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Altria’s Option Activity Wednesday Was Smokin’: Time to Buy?
By: Barchart | September 15, 2023
How busy was Altria’s (MO) options trading on Wednesday? It had no less than 11 puts or calls exhibiting unusual options activity -- a Vol/OI ratio of 1.25x or higher -- with volumes of 10,000 or more on five of them.
Something is up. It’s been two years since Altria experienced volume like yesterday’s. I’m guessing big hitters picked up long-duration calls, given that the put/call ratio was 0.02.
But as I’ve said, I’m a neophyte regarding options. My skill lies in assessing a company’s strengths and weaknesses vis-a-vis its business model. Good business models -- think Costco (COST) -- never go out of style.
Yesterday’s volume doesn’t confirm that investors are building positions in Altria. However, with volume of just 18,099 at midday on Thursday, I wouldn’t discount it.
So, I’ll answer two questions for readers: First, is Altria a long-term buy? Secondly, which of the 11 unusually active options from Wednesday were worth buying to secure Altria stock in the future?
Yay, Or Nay To Altria?
Everyone and their dog knows about Altria’s humongous dividend yield. With the October 2023 payment of $0.98, up four cents from July, it will have an annualized rate of $3.92, yielding 8.9%. It has increased its dividend for the 58th time over the past 54 years, putting it in an elite company. It is one of only 49 S&P 500 stocks that have increased their annual dividend payout for 50 or more consecutive years.
Also keen about share repurchases, Altria’s shareholder yield -- dividend yield plus buyback yield -- is 10.4%, putting it ahead of most companies in the index.
So, even with interest rates as high as they are, it’s an enticing yield. If you have no problem owning so-called sin stocks like Altria, you’d be silly not to consider MO, which pays you to wait for its share price to appreciate.
For example, although MO stock over the past five years is down more than 29%, its annualized total return is flat, thanks to its consistent dividends, at -0.05%. Over 15 years, it’s 9.3%. Anything over 8% is good in my books.
Earlier this year, Altria announced that it was getting back into the e-cigarette game, buying NJOY Holdings for $2.75 billion, plus $500 million in potential earnouts for achieving certain regulatory approvals. The acquisition is part of the company’s Moving Beyond Smoking business strategy.
“We are excited to add NJOY’s e-vapor intellectual property as a new platform that we believe we can build on to help more adult smokers transition to smoke-free alternatives,” Olivier Houpert, Altria’s Chief Innovation and Product Officer, said in the company’s March press release announcing the deal.
The company has four product segments in its smoke-free offerings: Smokeless Tobacco, often called chewing tobacco, Nicotine Pouches, E-Vapor (NJOY acquisition), and Heated Tobacco products through its majority-owned joint venture with JT Group, the owners of Japan Tobacco.
The e-vapor category generated $7 billion in U.S. retail sales in the past year. It is the largest smoke-free category in the U.S. Altria has an opportunity to capture a big chunk of that.
Altria’s goal for its smoke-free products is $5 billion by 2028. It finished 2022 with $2.6 billion. The acquisition of NJOY should help it meet its goal.
I don’t think there’s any question; Altria is a controversial stock, given its history in the cigarette business. However, the appreciation potential of its smoke-free products combined with the cash flow from its smokable products makes it an excellent contrarian play.
I say yay to MO stock.
The Best Option To Play MO
Over the past five years, MO stock has only traded below $40 on one occasion from March to November 2020. That would make a perfect entry point for buying Altria stock.
Of the 11 unusually active options from yesterday, none will get you all the way there. However, two stand out for me. One is a put -- the only put, by the way -- and the other a call.
The put has a $47.50 strike price with a June 21/2024 expiry, 281 days from now. As of yesterday’s close of $44.75, it was $2.75 in the money. With a $5.25 bid, your net price paid should you have to buy the shares would be $42.25, $1.69 below where it’s currently trading.
With 281 days to expiration, anything could happen. More than likely, it moves above the strike, and you’re left with the premium income yielding 15.2% on an annualized basis. That’s not a bad consolation prize.
As for the call, I like the Jan. 17/2025 $35 strike with a $9.85 ask. Sure, you’re paying 28% of the strike price to secure your right to buy 100 shares of MO stock in 492 days. But at a net price of $44.85, you could be sitting on a decent entry point should Altria shares catch fire over the next 70 weeks.
The volume yesterday on that call was 34,834 or 12.85x its open interest. Anything over 10x suggests there’s some unusual interest.
Both the put and call have long durations that provide sufficient time for the Altria Moving Beyond Smoking business strategy to gain traction with investors.
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Renaissance Group LLC Has $25.85 Million Holdings in Altria Group, Inc. (MO)
By: MarketBeat | September 9, 2023
• Renaissance Group LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579,306 shares of the company's stock after buying an additional 38,820 shares during the quarter. Renaissance Group LLC's holdings in Altria Group were worth $25,849,000 at the end of the most recent reporting period...
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Altria seeks import ban on certain Juul e-vapor products
By: Investing.com | August 22, 2023
(Reuters) - Altria Group (NYSE:MO) said on Tuesday its subsidiary, NJOY, has filed a complaint against Juul Labs with the U.S. International Trade Commission, seeking a ban on the import and sale of certain Juul e-vapor products.
The company said Juul products infringe certain patents owned by NJOY and intends to obtain a ban on products including its currently marketed Juul device and Juulpods.
Juul did not immediately respond to a request for comment.
Altria had earlier this year exited from the 35% stake it had in Juul. It had bought startup NJOY Holdings for about $2.75 billion in March.
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Altria (MO) earnings beat by $0.01, revenue was in line with estimates
By: Investing.com | August 1, 2023
Altria (NYSE: MO) reported second quarter EPS of $1.31, $0.01 better than the analyst estimate of $1.30. Revenue for the quarter came in at $5.44B versus the consensus estimate of $5.44B.
Guidance
Altria sees FY 2023 EPS of $4.89-$5.03 versus the analyst consensus of $4.98.
Altria's stock price closed at $45.42. It is down -1.54% in the last 3 months and up 3.63% in the last 12 months.
Altria saw 0 positive EPS revisions and 8 negative EPS revisions in the last 90 days. See Altria's stock price’s past reactions to earnings here.
According to InvestingPro, Altria's Financial Health score is "great performance".
Check out Altria's recent earnings performance, and Altria's financials here.
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Pacer Advisors Inc. Has $290.19 Million Holdings in Altria Group, Inc. (MO)
By: MarketBeat | July 21, 2023
• Pacer Advisors Inc. increased its position in shares of Altria Group, Inc. (NYSE:MO) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,503,577 shares of the company's stock after purchasing an additional 1,308,730 shares during the quarter. Altria Group makes up about 1.2% of Pacer Advisors Inc.'s holdings, making the stock its 5th biggest position. Pacer Advisors Inc. owned approximately 0.36% of Altria Group worth $290,190,000 at the end of the most recent reporting period...
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Altria Group, Inc. (MO) Holdings Raised by HB Wealth Management LLC
By: MarketBeat | June 24, 2023
• HB Wealth Management LLC grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,653 shares of the company's stock after purchasing an additional 2,838 shares during the period. HB Wealth Management LLC's holdings in Altria Group were worth $2,216,000 as of its most recent SEC filing...
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Range Financial Group LLC Has $1.45 Million Holdings in Altria Group, Inc. (MO)
By: MarketBeat | June 16, 2023
• Range Financial Group LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,546 shares of the company's stock after buying an additional 4,387 shares during the period. Altria Group comprises approximately 1.0% of Range Financial Group LLC's investment portfolio, making the stock its 27th biggest position. Range Financial Group LLC's holdings in Altria Group were worth $1,452,000 as of its most recent filing with the SEC...
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Kovack Advisors Inc. Grows Stake in Altria Group, Inc. (MO)
By: MarketBeat | June 15, 2023
• Kovack Advisors Inc. raised its stake in Altria Group, Inc. (NYSE:MO) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,767 shares of the company's stock after acquiring an additional 3,577 shares during the period. Kovack Advisors Inc.'s holdings in Altria Group were worth $1,224,000 as of its most recent SEC filing...
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It Might Not Be A Great Idea To Buy Altria Group, Inc. (MO) For Its Next Dividend
By: Simply Wall St | June 9, 2023
Altria Group, Inc. (NYSE:MO) is about to trade ex-dividend in the next four days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Thus, you can purchase Altria Group's shares before the 14th of June in order to receive the dividend, which the company will pay on the 10th of July.
The company's next dividend payment will be US$0.94 per share, on the back of last year when the company paid a total of US$3.76 to shareholders. Based on the last year's worth of payments, Altria Group has a trailing yield of 8.3% on the current stock price of $45.36. If you buy this business for its dividend, you should have an idea of whether Altria Group's dividend is reliable and sustainable. We need to see whether the dividend is covered by earnings and if it's growing.
If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Altria Group paid out 120% of profit in the past year, which we think is typically not sustainable unless there are mitigating characteristics such as unusually strong cash flow or a large cash balance. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. It paid out more than half (74%) of its free cash flow in the past year, which is within an average range for most companies.
It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Altria Group fortunately did generate enough cash to fund its dividend. Still, if the company repeatedly paid a dividend greater than its profits, we'd be concerned...
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Buy-Rated Stocks With Dividends: Altria Group Inc. (NYSE: MO)
By: 24/7 Wall St. | May 15, 2023
• Altria
This maker of tobacco products offers value investors a great entry point now as it has been hit as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of Philip Morris USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.
Altria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer, which some feel is worth more than $10 billion and may be a segment of the company that could be sold. When Altria posted outstanding fourth-quarter results, it also announced a shareholder-friendly $1 billion stock buyback plan.
Altria stock investors receive an 8.23% dividend. The Goldman Sachs target price is $52, while the consensus target is $49.62. The shares closed on Friday at $45.67.
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Altria agrees to $235 million settlement to resolve Juul-related cases
By: Investing.com | May 10, 2023
(Reuters) -Altria Group Inc said Wednesday that it will pay $235 million to settle at least 6,000 lawsuits accusing it of fueling a teen vaping epidemic through its former investment in e-cigarette maker Juul Labs Inc.
The deal ends nearly all of the litigation brought against the tobacco giant over Juul by local government bodies and individuals across the United States. It came shortly after San Francisco's public school district finished presenting its case against the company in a jury trial, which will now be cut short.
Sarah London, one of the lead attorneys for plaintiffs in the litigation, in a statement said the deal would "provide extraordinary and truly meaningful relief for youth, parents, and governmental organizations nationwide."
Altria (NYSE:MO) expects to record a pre-tax charge of $235 million in the second quarter of 2023 and intends to exclude it from adjusted earnings per share.
"While we continue to believe the claims against us are meritless, we believe this settlement avoids the uncertainty and expense of a protracted legal process and is in the best interest of our shareholders," said Murray Garnick, Altria's executive vice president and general counsel.
The company in March announced that it had given up its 35% stake in Juul in exchange for licenses to some of Juul's intellectual property. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018.
Plaintiffs in the lawsuits claimed that Juul marketed to teenagers with sweet flavors and flashy social media campaigns. They said Altria helped the strategy by letting Juul use its sales force and place its products next to Altria's on shelves.
Juul previously settled most of the cases against it, paying more than $1 billion to 48 states and territories and $1.7 billion to individuals and local government entities.
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Gibson Wealth Advisors LLC Raises Stake in Altria Group, Inc. (MO)
By: MarketBeat | May 3, 2023
• Gibson Wealth Advisors LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 6,200.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the company's stock after purchasing an additional 6,200 shares during the quarter. Gibson Wealth Advisors LLC's holdings in Altria Group were worth $285,000 at the end of the most recent quarter...
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Altria Group (MO) Scheduled to Post Quarterly Earnings on Thursday
By: MarketBeat | April 20, 2023
• Altria Group (NYSE:MO) is scheduled to issue its quarterly earnings data before the market opens on Thursday, April 27th. Analysts expect the company to announce earnings of $1.18 per share for the quarter. Altria Group has set its FY23 guidance at $4.98 to $5.13 EPS and its FY 2023 guidance at $4.98-$5.13 EPS.Individual interested in listening to the company's earnings conference call can do so using this link...
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Juul, Altria settle with Minnesota over teen vaping addiction
By: Investing.com | April 17, 2023
(Reuters) -E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group (NYSE:MO) Inc, on Monday settled claims by the state of Minnesota that accused them of fueling teen vaping addiction.
The settlement was announced by Minnesota Attorney General Keith Ellison and by Juul as a trial in the case, which had kicked off in late March, was nearing its end.
It is the latest in a series of settlements over e-cigarette marketing practices by Juul, but the first such public settlement by Altria, which still faces thousands of similar lawsuits including one by San Francisco's public school district set to go to trial next week.
Ellison said in a statement that the settlement was in "the best interest of Minnesotans" and that its terms would be announced in 30 days.
A Juul spokesman said the company was pleased with the deal and "focused on our path forward to maximize the value and impact of our product technology and scientific foundation."
Altria did not immediately respond to a request for comment.
Minnesota's lawsuit, filed in 2019, was the first to go to trial of thousands by state governments, school districts and individuals around the country against Juul and Altria over underage vaping.
Juul has now settled most of that litigation, agreeing to pay more than $1 billion to settle with 48 states and territories including Minnesota, and $1.7 billion to resolve thousands of lawsuits by individuals and local government entities. Only Florida, Michigan, Maine and Alaska have not reached settlements with the company.
Minnesota, like other plaintiffs, alleged that Juul sold its e-cigarettes in sweet flavors and promoted them on social media to appeal to underage consumers. It said Altria helped Juul market its products, including by providing it access to its sales force and including Juul advertisements in Marlboro products.
Both companies have denied wrongdoing.
Juul in 2019 pulled most of its e-cigarette flavors from the market and halted much of its advertising under pressure from regulators. The U.S. Food and Drug Administration last June briefly banned the products, though it put the ban on hold and agreed to reconsider after the company appealed.
Altria last month announced that it had given up its investment in Juul in exchange for some of Juul's intellectual property. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018.
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Key Client Fiduciary Advisors LLC Acquires 3,952 Shares of Altria Group, Inc. (MO)
By: MarketBeat | March 23, 2023
• Key Client Fiduciary Advisors LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 33.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,921 shares of the company's stock after buying an additional 3,952 shares during the period. Key Client Fiduciary Advisors LLC's holdings in Altria Group were worth $728,000 at the end of the most recent quarter...
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Cigarette giant Altria Group considers non-nicotine product expansion - WSJ
By: Investing.com | March 24, 2023
Altria Group (NYSE:MO), America's biggest cigarette company, is considering a move to expand into non-nicotine products, according to a report by The Wall Street Journal on Friday.
The company is looking to move into less harmful products after "a string of failures," the report states. The company has an array of heated-tobacco devices, e-cigarettes, and oral nicotine pouches in the works, as well as the planned acquisition of NJOY Holdings Inc.
The company is aiming to take its reduced-risk products abroad and is looking at expanding into non-nicotine offerings such as cannabis products and caffeine pouches.
Altria has also set volume and revenue goals for its transition to smoke-free products, aiming to increase its smoke-free sales volume by at least 35% over the next five years and setting the goal of doubling its net revenue from smoke-free products to $5 billion by 2028, with $2B from new reduced-risk products.
The maker of Marlboro cigarettes announced Thursday that it has "aspirations to compete in the international innovative smoke-free and non-nicotine categories."
"We believe the international smoke-free and non-nicotine categories combined represent multi-billion dollar opportunities for us. Our teams are evaluating these opportunities and expect to finalize strategies for these growth areas over the next 12 months," the company said.
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Verity & Verity LLC Grows Stock Holdings in Altria Group, Inc. (MO)
By: MarketBeat | March 19, 2023
• Verity & Verity LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,764 shares of the company's stock after purchasing an additional 3,921 shares during the quarter. Verity & Verity LLC's holdings in Altria Group were worth $8,766,000 as of its most recent filing with the Securities and Exchange Commission...
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Altria BEARISH RISK REVERSAL ahead of this week's Investor Day on 3/23 at 9:00 am ET
By: Money Flow Mel | March 20, 2023
• $MO BEARISH RISK REVERSAL ahead of this week's Investor Day on 3/23 at 9:00 am ET
Writing the 4/21 $46 CALLS
Opening the 04/21 $46 PUTS .
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Altria to buy e-cigarette startup NJOY for $2.8 billion after Juul exit
By: Investing.com | March 6, 2023
(Reuters) -Altria Group Inc said on Monday it would buy e-cigarette startup NJOY Holdings Inc for about $2.75 billion in cash, in fresh bets by the Marlboro maker on the fast-growing market after losing billions through its investment in Juul.
The tobacco giant said it had exchanged its investment in Juul for certain of the once red-hot vaping company's heated tobacco intellectual property, at a time when it faces thousands of lawsuits and reportedly prepared to file for bankruptcy.
The value of Altria (NYSE:MO)'s investment in Juul slid to $250 million as of December last year from $12.8 billion it invested in 2018.
The NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to some NJOY products, Altria said.
NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. It makes NJOY Ace Pods - currently the only pod-based e-vapor product with market authorizations from the U.S. Food and Drug Administration - and disposable e-cigarettes under the NJOY Daily brand.
Altria said it had multiple sources of funding for the deal, including cash from a $2.7 billion agreement it entered with Philip Morris International Inc (NYSE:PM) last year for the IQOS Tobacco Heating System.
The buyout is expected to add to Altria's adjusted per-share profit within three years of closing. The company, which did not provide a timeline for deal completion, also reaffirmed its outlook for a profit of $4.98 to $5.13 per share in 2023.
Perella Weinberg Partners LP and Morgan Stanley (NYSE:MS) are the financial advisers to Altria.
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