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Morningstar•September 03, 2024
Morningstar•September 03, 2024Altria Group, Inc.: Altria's Domination in US Cigarettes Doesn't Extend to Next-Generation Products
Summary
Altria comprises Philip Morris USA, US Smokeless Tobacco, John Middleton, Horizon Innovations, and Helix Innovations. Through its tobacco subsidiaries, Altria maintains the leading position in cigarettes and smokeless tobacco in the United States and the number-two spot in machine-made cigars. The company's Marlboro brand is the leading cigarette brand in the US with 42% annual share in 2023. Beyond its core business, it holds an 8% interest in the world's largest brewer, Anheuser-Busch InBev, a 42% stake in cannabis manufacturer
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Analyst Profile
Kristoffer Inton
DirectorKristoffer Inton is director of equity research, basic materials for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers gold, aggregates and cement, and uranium companies.Before joining Morningstar in 2013, Inton was an investment banking associate for Guggenheim Securities in New York. Previously, he was an investment banking analyst for Merrill Lynch in Chicago and New York.Inton holds a bachelor’s degree in finance with high honors from the University of Illinois and a master’s degree in business administration with distinction from Northwestern University’s Kellogg School of Management.