Connor Clark & Lunn Investment Management Ltd. Buys Shares of 702,033 Altria Group, Inc. $MO

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Altria Group, Inc. (NYSE:MO) during the second quarter, Holdings Channel reports. The fund purchased 702,033 shares of the company’s stock, valued at approximately $50,511,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MO. Capital Square LLC acquired a new position in shares of Altria Group in the second quarter valued at approximately $4,967,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Altria Group during the 2nd quarter worth approximately $5,712,000. Clarion Wealth Managment Partners LLC acquired a new stake in Altria Group during the 2nd quarter worth approximately $581,000. Haverford Trust Co bought a new stake in Altria Group during the 2nd quarter worth approximately $4,295,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Altria Group during the 2nd quarter worth approximately $226,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $68.46 on Tuesday. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $77.06. The company has a 50 day simple moving average of $70.18 and a two-hundred day simple moving average of $68.89. The company has a market capitalization of $114.32 billion, a PE ratio of 14.44, a P/E/G ratio of 2.34 and a beta of 0.46.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Research analysts predict that Altria Group, Inc. will post 5.67 EPS for the current year.

Analyst Upgrades and Downgrades

MO has been the subject of several analyst reports. Morgan Stanley set a $71.00 price target on shares of Altria Group in a research note on Friday, May 1st. Citigroup boosted their price objective on shares of Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. BTIG Research assumed coverage on Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating for the company. Finally, Barclays cut their target price on Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average price target of $70.11.

About Altria Group

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.