U.S. markets close in 4 hours 22 minutes
  • S&P 500

    4,275.31
    -4.84 (-0.11%)
     
  • Dow 30

    33,749.40
    -11.65 (-0.03%)
     
  • Nasdaq

    13,061.30
    +14.12 (+0.11%)
     
  • Russell 2000

    2,001.50
    -15.12 (-0.75%)
     
  • Crude Oil

    88.37
    -3.72 (-4.04%)
     
  • Gold

    1,795.00
    -20.50 (-1.13%)
     
  • Silver

    20.22
    -0.48 (-2.33%)
     
  • EUR/USD

    1.0193
    -0.0065 (-0.63%)
     
  • 10-Yr Bond

    2.7790
    -0.0700 (-2.46%)
     
  • GBP/USD

    1.2087
    -0.0052 (-0.43%)
     
  • USD/JPY

    133.1600
    -0.3200 (-0.24%)
     
  • BTC-USD

    24,155.64
    -348.48 (-1.42%)
     
  • CMC Crypto 200

    573.86
    -16.91 (-2.86%)
     
  • FTSE 100

    7,504.63
    +3.74 (+0.05%)
     
  • Nikkei 225

    28,871.78
    +324.80 (+1.14%)
     

Is it Still Safe to Acquire Philip Morris (PM) Shares?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Fundsmith Equity, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Fund underperformed what is perhaps the most obvious comparator — the MSCI World Index (£ net), which itself fell by 11.3% — by 6.5 percentage points during the first half of 2022. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Fundsmith Equity Fund mentioned Philip Morris International Inc. (NYSE:PM) and explained its insights for the company. Founded in 1847, Philip Morris International Inc. (NYSE:PM) is a New York, New York-based multinational tobacco company with a $145.0 billion market capitalization. Philip Morris International Inc. (NYSE:PM) delivered a -1.48% return since the beginning of the year, while its 12-month returns are down by -3.75%. The stock closed at $93.59 per share on July 21, 2022.

Here is what Fundsmith Equity Fund has to say about Philip Morris International Inc. (NYSE:PM) in its Q2 2022 investor letter:

"Philip Morris International meanwhile benefited from its low rating, the perceived defensive nature of tobacco and latterly an attractive looking agreement to purchase Swedish Match (NASDAQ:MTCH) to create the undoubted leader in smokeless tobacco products and nicotine pouches. Despite this outperformance, Philip Morris International still ended the quarter as our second most lowly-rated stock."

Cheapest Cigarette Brands in 2018
Cheapest Cigarette Brands in 2018

MeskPhotography/Shutterstock.com

Our calculations show that Philip Morris International Inc. (NYSE:PM) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Philip Morris International Inc. (NYSE:PM) was in 55 hedge fund portfolios at the end of the second quarter of 2022, compared to 47 funds in the previous quarter. Philip Morris International Inc. (NYSE:PM) delivered a -10.92% return in the past 3 months.

In August 2021, we also shared another hedge fund’s views on Philip Morris International Inc. (NYSE:PM) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.