Altria bought NJOY and plugged the company's vaping product into its distribution network. NJOY is enjoying a huge boost in sales, leading to enthusiasm among investors.
In the latest trading session, Altria (MO) closed at $54.27, marking a -0.8% move from the previous day.
Big tobacco producers Altria Group (MO) and Philip Morris International (PM) have seen their stocks soar over +30% this year with both trading near 52-week highs.
Zacks.com users have recently been watching Altria (MO) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
24/7 Wall St. Insights On days when the market sells off, Altria Group Inc.
Altria is benefiting from its shift toward smoke-free products. This, along with pricing power, is aiding MO amid low cigarette volumes.
A habitual raiser, this cigarette sector incumbent upped its payout by 4%. Its yield currently approaches 8%.
Walgreens is resetting its business, including a decision to close a large number of stores. Altria is a large U.S. cigarette maker trying to find a new growth engine.
In the most recent trading session, Altria (MO) closed at $53.77, indicating a +0.77% shift from the previous trading day.
Altria (MO) reported earnings 30 days ago. What's next for the stock?
Altria's push into smoke-free products presents promising growth opportunities, but the ongoing decline in its cigarette business poses challenges for MO stock.
Altria has a long history of raising dividend payments during the past 50 years. The company is exploring new areas of growth outside of traditional tobacco products.