5 Best Buy-the-Dip Stocks To Buy Right Now

In this article, we discuss 5 best buy-the-dip stocks. If you want to read our discussion on the stock market performance, head directly to 13 Best Buy-the-Dip Stocks To Buy Right Now. 

5. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 68

Industry: Tobacco

Philip Morris International Inc. (NYSE:PM), the American tobacco giant, is one of the best 52-week low stocks to invest in. On February 8, Philip Morris International Inc. (NYSE:PM) reported a Q4 non-GAAP EPS of $1.36, missing market estimates by $0.09. However, the revenue climbed 11% year-over-year to $9.05 billion, topping Wall Street consensus by $40 million. Following the release of a mixed Q3 earnings report, Philip Morris International Inc. (NYSE:PM) announced that it entered 2024 with robust momentum, driven by an increase in organic smoke-free net revenue and profit growth.

According to Insider Monkey’s fourth quarter database, Philip Morris International Inc. (NYSE:PM) was part of 68 hedge fund portfolios, compared to 62 in the preceding quarter. Terry Smith’s Fundsmith LLP is the biggest stakeholder of the company, with 15 million shares valued at $1.4 billion. 

Ariel International Fund made the following comment about Philip Morris International Inc. (NYSE:PM) in its Q1 2023 investor letter:

“Finally, tobacco maker, Philip Morris International Inc. (NYSE:PM) declined in the period on concerns related to supply-chain disruptions resulting from the war in Ukraine, which we view as temporary. We believe the favorable economics and margin expansion associated with market share gains from the IQOS brand and Reduced Risk Products should yield value creation opportunities in the years ahead. Furthermore, at current trading levels, we think the company’s operating leverage, pricing power, and free cash flow profile offer a margin of safety.”