Canal Capital Management LLC Has $11.39 Million Holdings in Altria Group, Inc. $MO

Canal Capital Management LLC cut its stake in Altria Group, Inc. (NYSE:MO) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,565 shares of the company’s stock after selling 13,721 shares during the period. Altria Group makes up approximately 1.6% of Canal Capital Management LLC’s holdings, making the stock its 18th biggest position. Canal Capital Management LLC’s holdings in Altria Group were worth $11,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Altria Group by 62.5% during the second quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after buying an additional 6,302,819 shares during the last quarter. Marshall Wace LLP increased its stake in Altria Group by 286.7% during the third quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock valued at $295,929,000 after acquiring an additional 3,321,262 shares during the period. Freestone Grove Partners LP bought a new position in Altria Group during the third quarter valued at about $89,460,000. Barclays PLC raised its holdings in Altria Group by 24.9% in the 3rd quarter. Barclays PLC now owns 6,264,224 shares of the company’s stock valued at $413,815,000 after acquiring an additional 1,249,525 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Altria Group by 1.2% during the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after purchasing an additional 886,583 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Insider Buying and Selling

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by company insiders.

Altria Group Price Performance

Altria Group stock opened at $65.07 on Friday. The firm has a market capitalization of $108.79 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.78 and a beta of 0.45. The stock has a fifty day moving average price of $65.07 and a two-hundred day moving average price of $62.62. Altria Group, Inc. has a 52-week low of $52.82 and a 52-week high of $70.51.

Altria Group (NYSE:MO) last issued 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%. During the same quarter last year, the company posted $1.30 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be given a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s payout ratio is 103.16%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Jefferies Financial Group lifted their target price on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. UBS Group upped their target price on shares of Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Barclays increased their price target on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus cut their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $65.11.

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.