Philip Morris International Inc. made some headlines Wednesday when it announced an agreement to buy a 20-percent stake in Russian distributor firm Megapolis for about $750 million, according to reports. Megapolis is the Russia distributor for Philip Morris International Inc., wich is the second-largest world market for cigarettes. With the news, Philip Morris International Inc. said the deal, which may close by year’s end, should boost earnings per share as early as the March quarter of 2014. While that may seem like good news, how do some of the world’s savviest investors – those who run multi-billion-dollar hedge funds – fel about the company and the stock? Let’s take a deeper look.
Philip Morris International Inc. (NYSE:PM) investors should be aware of an increase in support from the world’s most elite money managers of late. PM was in 57 hedge-fund portfolios at the end of September. There were 55 hedge funds in our database with PM holdings at the end of the previous quarter.