PMFood & Consumer Staples
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Get what investors say about PM next
1 investor call on PM in the last 90 days (1 bullish, 0 bearish). Follow PM free and new calls come to you in The Brief, our morning email, the day after we record them. This page shows them a week later.
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Who said what, and what PM did next
Every dot is a day someone on the record made a call. Hover one to see who. We are not scoring them — the point is that you can see it and judge for yourself.
Who’s talking about PM
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2026-09-15 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | MOI Global | Philip Morris International spent over $5B developing reduced-risk products from 2005–2011, growing users… |
| 2026-04-16 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | William Green | Richer, Wiser, Happier | Philip Morris has committed $12B plus $4B in acquisitions to replace combustion with heat-not-burn (IQOS) and… |
| 2026-03-17 | Terry SmithFounder & CIO, Fundsmith | Bullish | Fundsmith LLP UK | Philip Morris is the structural leader in reduced-risk tobacco products—heat-not-burn and nicotine… |
| 2025-03-14 | Terry SmithFounder & CIO, Fundsmith | Bullish | Fundsmith LLP UK | Philip Morris leads the tobacco-to-reduced-risk transition via IQOS heat-not-burn and Swedish Match nicotine… |
| 2024-09-05 | Brett SchaeferCo-host, Chit Chat Stocks | Bullish | Chit Chat Stocks | Mix shift toward reduced-risk products is returning Philip Morris to volume growth, supporting expected… |
| 2024-07-25 | Ryan | Bullish | Chit Chat Stocks | Philip Morris International traded at a low-teens trough multiple while margins were temporarily compressed… |
| 2024-07-25 | Brett | Bullish | Chit Chat Stocks | Philip Morris's volume growth across both smokeable and oral nicotine products, combined with margins… |
| 2022-09-26 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | Capital Allocators with Ted Seides | Philip Morris invested ~$500M/year in reduced-risk heat-not-burn products (iQOS) while competitors… |
| 2022-09-17 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | The Investor’s Podcast | Philip Morris International has already transitioned 30% of its customer base away from combustible… |
| 2021-10-13 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | GuruFocus | Philip Morris has invested nearly $10B in IQOS heat-not-burn technology proven 70% effective at converting… |
Show all 16 mentions
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2021-03-04 | Terry SmithFounder & CIO, Fundsmith | Bullish | No-Nonsense Investing | Unlike oil majors, Philip Morris responded to its secular headwind by cutting the dividend, stopping… |
| 2019-05-15 | Terry SmithFounder & CIO, Fundsmith | Bullish | No-Nonsense Investing | Government restrictions on tobacco (advertising bans, plain packaging, litigation) have permanently barred… |
| 2018-02-26 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | Talks at Google | Philip Morris invested $2.5B to develop IQOS heat-not-burn, willingly destroying near-term reported profits… |
| 2017-09-19 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | Mark Bruno | Philip Morris International's willingness to sacrifice $500M/year in reported profits to develop IQOS… |
| 2017-07-14 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | WEALTHTRACK | Philip Morris invested $500M/year in iQOS heated tobacco — a non-combusted product delivering 99% fewer… |
| 2016-06-22 | Tom RussoManaging Member, Gardner Russo & Quinn | Bullish | Tim Schaefer | Philip Morris's inability to reinvest capital into advertising or acquisitions due to regulatory constraints… |
Last reports
| Report | When | EPS actual vs est. | Reaction |
|---|---|---|---|
| 21 Oct 2026 | before the open | 2.36 vs 2.36 | -0.5% |
Notable options days
Sessions in the last 120 where PM’s settled options volume ran ≥ 2× its trailing 20-session baseline, or delta-dollar flow ran ≥ 2.5× — 8 of 120 sessions qualified.
| Date | Close | RVOL | Δ$ flow ($M) | Call % | LEAPS % | +20 sess. |
|---|---|---|---|---|---|---|
| 2026-10-21 | ||||||
| 2026-10-08 | ||||||
| 2026-10-01 | ||||||
| 2026-09-24 | ||||||
| 2026-07-22 | ||||||
| 2026-07-21 | ||||||
| 2026-06-22 | ||||||
| 2026-05-12 |
PM on the Wheel
PM passed our 1-month put test (30-delta put, 30–45 days, sold at the bid, bought back at half the credit), 2021–2026.
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