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BTAFF - Altria: Why We Prefer British American Tobacco
British American Tobacco Plc
2024-04-28 18:00:00 ET
Summary
Altria Group Inc. experienced significant declines in cigarette sales, with Marlboro dropping by 8.7% and the discount segment declining by over 30%.
Altria's price hikes are no longer doing their magic as revenues declined year over year.
We go over the challenges ahead and why we like another cigarette stock far more.
On our last coverage of Altria Group, Inc. ( MO ) we pointed out the bull case was being undermined by a bunch of quitters. Investors were too drunk on the dividend hike to care, and the stock glided higher....