文章核心观点 - 美国烟草公司(Altria)旗下的NJOY电子烟产品获得美国食品药品监督管理局(FDA)的授权,可以在美国市场销售含有薄荷味的电子烟产品[3][4] - 这为Altria带来了增长机会,因为NJOY目前在美国电子烟市场的份额较低,有很大的增长空间[5][6] - 但Altria面临来自非法进口的中国制造电子烟产品的竞争,正在采取法律行动应对[7][8] 公司分析 - Altria去年以27.5亿美元收购NJOY,并有可能支付额外5亿美元的里程碑奖励[4] - NJOY获得FDA授权后,Altria将支付NJOY前所有者2.5亿美元,另外2.5亿美元取决于其他产品是否获批[4] - Altria去年实现了91亿美元的自由现金流,为公司的高股息提供了充足的支持[9] - Altria目前的股票估值仅为9倍市盈率,如果NJOY带来增长,估值有望提升[10] 行业分析 - 美国电子烟市场存在非法进口产品的问题,Altria正在采取法律行动应对[7] - 获得FDA授权的NJOY产品目前是美国市场上唯一合法的含有薄荷味的电子烟产品[8]

Investors are giving this company too big a discount. Investors love tobacco stocks because of their high dividend yields and growing dividend payouts. Long-term shareholders in these companies have made a fortune by simply holding and watching the dividend payments pile up in their accounts. Today, Altria Group (MO 0.20%) has a dividend yield of 8.43%. The United States-focused tobacco giant can generate $1,000 in annual dividend income for investors who buy $11,862 worth of stock right now. But is this di ...

krblokhin Altria Group (NYSE:MO) has shown some bullish rally in the year-to-date but the stock price is still 40% below the past peak of $75 hit in 2017. One of the key reasons behind the negative sentiment towards Altria stock is the rapid decline in the shipment volume of its smokeable products. In the latest quarter, total cigarette volume declined by 10% YoY and its Marlboro brand declined by 8.7%. The shipment volume has been declining for most of the last decade, and this decline has increased over t ...

文章核心观点 - 公司的核心烟草业务面临着消费者偏好转变、监管趋严等行业性挑战,公司近年来无法完全通过价格提升来抵消销量下降的负面影响 [4][5][6][9] - 公司正在积极拓展电子烟、加热烟草等新兴业务,但这些新品类目前规模较小,还需要一定时间才能成为公司主要收入来源 [14][20][21] - 公司财务状况稳健,有能力维持并增加股息派发,但未来能否成功应对行业变革仍存在不确定性 [22][24][25][26] 根据目录分别总结 核心烟草业务 - 公司核心的烟草制品业务占总收入的大部分,但近年来销量持续下降,公司虽然通过价格提升来抵消部分影响,但2023年和2024年Q1仍出现收入下滑 [5][6][7][9] - 公司在提高烟草制品业务利润率方面取得进展,2023年和2024年Q1利润率分别达到59.9%和60.2% [10][11] 新兴业务 - 公司的无烟烟草产品业务(如on!)保持良好增长势头,2022-2023年销量复合增长率达53.7% [11][13] - 公司收购的电子烟品牌NJOY正在加强供应链、拓展零售渠道,但面临非法电子烟产品泛滥的挑战 [14][15][17][18][19] - 公司正在研发加热烟草产品,计划于2025年上半年提交上市申请,但该品类在美国市场尚未起步 [20][21] 财务状况 - 公司近年来调整后每股收益和每股股息保持稳定增长,2024年中期指引也显示收益有望继续增长 [22] - 公司债务水平合理,偿债能力强,有利于维持股息支付 [24]

文章核心观点 - 公司正在积极推动成人吸烟者转向潜在危害较小的替代品 [1][2][4] - 公司通过子公司Helix Innovations持有全球范围内的on!烟草衍生尼古丁(TDN)袋装产品 [5] - 公司认为烟草危害降低需要提供吸引人的无烟产品,NJOY薄荷味电子烟获FDA授权为监管替代品 [7] 公司业务表现 - 口腔烟草产品分部收入同比增长3.7%,主要得益于定价策略优化和促销投资减少 [6] - on!产品出货量同比增长32% [6] - 公司股价同比上涨13.4%,优于行业6.7%的涨幅 [8] 行业趋势 - 消费者越来越倾向于选择减害产品(RRPs)或无烟替代品,这是由于传统香烟吸烟的健康风险已广为人知 [5] - 公司为应对这一市场动态,推出了各种口腔烟草、电子烟和加热烟草产品 [5] - FDA授权NJOY薄荷味电子烟,为目前充斥非法味道一次性电子烟的市场提供了监管替代品 [7]

The Food and Drug Administration on Friday authorized the first menthol-flavored electronic cigarettes for adult smokers, acknowledging that vaping flavors can reduce the harms of traditional tobacco smoking. The FDA said it authorized four menthol e-cigarettes from Njoy, the vaping brand recently acquired by tobacco giant Altria, which also sells Marlboro cigarettes. The decision lends new credibility to vaping companies' longstanding claim that their products can help blunt the toll of smoking, which is b ...

Tobacco stocks have a bad reputation. Investors with a particular set of ethics tend to veer away from them because the companies’ products are known to be detrimental to people’s health. However, if you take an objective view, buy-rated tobacco stocks can be good investments. That’s because, though not strictly considered as consumer essentials, tobacco products remain in massive demand despite wide-scale pushback. Many tobacco companies are also pivoting toward less damaging forms of their products. That’ ...

Altria (MO) closed the most recent trading day at $44.80, moving +0.22% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.03%. Shares of the owner of Philip Morris USA, the nation's largest cigarette maker witnessed a loss of 2.61% over the previous month, beating the performance of the Consumer Staples sector with its loss of 3.62% and underperforming the S&P 500's gain of 3.34%. ...

krblokhin Diversified investors have not been rewarded much in 2024. While the S&P 500 is up by more than 14%, dividend included, so far this year, value strategies and defensive sectors have generally lost ground to the tech-heavy SPX. During my weekend market research, I found that only Information Technology and Communication Services are moving higher on a relative basis to the S&P 500. Even Utilities, which had captured the eye of some AI alpha-seekers, has fallen off. Consumer Staples, meanwhile, is n ...

Terroa Introduction I don't smoke. I never tried a cigarette and don't recommend it to anyone. After all, it's not healthy. According to the CDC: Smoking causes stroke and coronary heart disease, which are among the leading causes of death in the United States. Even people who smoke fewer than five cigarettes a day can have early signs of cardiovascular disease. Smoking damages blood vessels and can make them thicken and grow narrower. This makes your heart beat faster and your blood pressure go up. Clots c ...