14 Best FMCG Stocks To Buy Now

4. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 64

Philip Morris International Inc. (NYSE:PM) is a multinational tobacco corporation originating from the United States, serving consumers in over 180 countries worldwide. The company’s flagship product is Marlboro, positioning it prominently among the giants of “Big Tobacco.”

Philip Morris International (NYSE:PM) recently announced a quarterly dividend of $1.30 per share, or $5.20 annualized. The dividend is payable on July 8, 2024, to stockholders of record as of June 21, 2024, with an ex-dividend date of June 20, 2024.

Furthermore, despite facing challenges in the traditional smoking product segments, Philip Morris International Inc. (NYSE:PM) increased its Q1 revenue by 3.5% year-over-year, as Americans shift from combustible tobacco products to smoke-free alternatives. Analysts attribute this smooth transition to the success of Philip Morris’s smoke-free product category, led by IQOS and VEEV vapes.

By the end of the first quarter, 64 of the 919 hedge funds tracked by Insider Monkey held shares in Philip Morris International Inc. (NYSE:PM). The largest shareholder was Fundsmith LLP, managed by Terry Smith, with a $1.35 billion investment in the company.