Altria Is Down 15% From Its 52 Week High. Time to Buy?
Altria (NYSE: MO) is the leading cigarette maker in the United States, owning the domestic distribution rights to the popular cigarette brand Marlboro. In many ways, it has a great business. But in other ways, it is becoming clearer that Altria's business will never be what it once was.
For long-term investors, that's a problem and one that was highlighted in the company's fourth-quarter and full-year 2022 results.
Altria's primary business is selling cigarettes and other smokable tobacco products (such as cigars). Management highlights that the Marlboro brand has a huge 42.5% retail market share. That's a massive number and clearly provides the company with material industry clout and, given the addictive nature of tobacco products, a fairly reliable revenue base. This is the foundation on which an investment in Altria is built.
Source Fool.com
