It’s easy to see how investors in vice stocks could develop a severe case of the spins from 2025. Some rose, some fell, and seldom at the same time. Nicotine pouch-maker Zyn’s parent company, Philip Morris International, soared nearly 34%, and Budweiser-maker AB InBev ended the year up about 29%. Drink-maker Molson Coors, however, tumbled 18%. SUBSCRIBE:  Receive more of our free The Daily Upside newsletter. READ ALSO: Prediction Markets Fuel Gambling Gold Rush and Is the Great Live Sports Bet Paying Off ...

Core Viewpoint - ITC Ltd. shares experienced a significant decline due to a government-imposed higher levy on tobacco products, raising concerns about its impact on the company's revenue and market position [1][4]. Group 1: Tax Impact - The new excise duty on cigarettes will range from ₹2,050 to ₹8,500 per 1,000 sticks, effective from February 1, leading to a tax hike of over 30% if the National Calamity Contingent Duty remains in place [1][2]. - Analysts predict that ITC may need to increase prices by at least 15% to offset the impact of the new levies [5]. Group 2: Market Reaction - ITC's shares dropped 10%, marking the largest decline since 2020, while Godfrey Phillips India Ltd. saw a 17% decrease in share price [2]. - Trading volumes for both companies surged to more than 20 times their three-month average, indicating heightened market activity and investor concern [3]. Group 3: Revenue and Sales Concerns - ITC derives over 40% of its revenue from cigarette sales, making it particularly vulnerable to the new tax burden [4]. - Historical data suggests that steep tax increases have previously led to volume drops of up to 9% for ITC, raising concerns about future sales performance [6]. Group 4: Government Policy and Health Implications - The Indian government aims to keep tobacco products expensive to discourage usage and mitigate public health impacts, with projections indicating that the economic burden of tobacco-related diseases could exceed ₹2.4 trillion ($26.7 billion) annually [6][8]. - Recent government actions include a new health and national security tax on tobacco production machinery and a ban on advertisements for tobacco products during the Indian Premier League [7].

Core Insights - Philip Morris International (PM) is the largest tobacco company, benefiting from strong margins in both its declining cigarette business and its growing "smoke-free" segment [1] - The company's profitability has enabled consistent dividend increases, reflecting its robust financial health [1] Company Analysis - PM has a durable competitive advantage due to its established market position and strong balance sheet [1] - The focus on high-growth smoke-free products indicates a strategic shift towards innovation and sustainability within the tobacco industry [1]

There are an estimated 100 million smokers in the world's most populous country. ...

Core Insights - Long-term investing for children is evolving into a comprehensive wealth-building ecosystem, driven by new legislation and increased flexibility in tax-advantaged accounts [1] - The assets in youth-focused investment accounts, such as 529 plans and ABLE accounts, have grown significantly, reaching approximately $568 billion as of June 30, 2025, up from $508 billion in mid-2024 [2] - The introduction of "Trump accounts" under the One Big Beautiful Bill Act (OBBBA) will provide a one-time $1,000 seed contribution for children born between January 1, 2025, and December 31, 2028, with annual contributions allowed up to $5,000 [4] Youth Investment Trends - The "Roth-ification" of 529 plans allows families to roll over up to $35,000 into a Roth IRA, enhancing the long-term utility of these accounts [3] - The global child and youth services market is projected to grow at about 8% annually, potentially surpassing $235 billion by 2032 [5] Company-Specific Insights - Altria Group, Inc. (NYSE:MO) has a total return of 40.54% over the past five years, with recent FDA approval for new nicotine pouch products expected to drive growth [9][10] - Kite Realty Group Trust (NYSE:KRG) has a total return of 60.56% over the past five years, recently announcing a special cash dividend and completing significant property dispositions to enhance portfolio quality [14][15][17]

While tobacco giant Altria Group (MO) understandably may not be everyone’s cup of tea, its relevance cannot be denied. Despite challenges to the mainline tobacco industry, Altria has been pivoting toward e-cigs and other product categories. Perhaps most importantly to investors, MO stock presently commands an annual dividend yield of 8.99%. With President Donald Trump applying relentless pressure on the Federal Reserve to lower the benchmark interest rate — and the central bank embarking on a more dovish ...

When I last wrote about Marlboro cigarette producer Altria Group ( MO ) in late August, its prospects looked great. The actual stock performance has been anything but, with an 11% drop in price since.Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the th ...

Core Insights - Altria Group, Inc.'s nicotine pouch business, operated through Helix Innovations, is becoming a significant driver of the company's oral tobacco segment as traditional categories decline [1][5] Group 1: Helix Innovations Performance - Helix shipped 42.2 million cans of on! in the third quarter of 2025, with shipments for the first nine months rising 14.8% to 133.6 million cans, outperforming other oral tobacco categories [2][9] - Helix's contribution to earnings quality is notable, stabilizing adjusted operating income and expanding margins despite a decline in total segment volumes [3][9] - Helix launched on! PLUS in select states, offering multiple flavors and nicotine strengths, which could further enhance growth [3] Group 2: Pricing and Market Position - Average nicotine pouch prices fell approximately 7% nationally, while on! retail prices increased by about 1.5% year over year in the third quarter [4][9] - on!'s retail share of total oral tobacco remained at 8.7%, unchanged sequentially and down 0.1 share point year over year [4] Group 3: Competitive Landscape - Philip Morris International Inc. reported a 36% increase in global ZYN can shipments and a 39% growth in U.S. ZYN offtake, supported by commercial activities and capacity investments [6] - Turning Point Brands, Inc. experienced a 627.6% year-over-year growth in modern oral segment net sales, now representing 30.8% of its revenues, and raised its full-year sales outlook to $125-$130 million [7] Group 4: Valuation and Earnings Estimates - Altria's shares have decreased by 0.8% in the past month, while the industry has grown by 1.6% [8] - Altria trades at a forward price-to-earnings ratio of 10.36X, lower than the industry's average of 14.47X [10] - The Zacks Consensus Estimate for Altria's 2025 and 2026 earnings implies year-over-year growth of 6.3% and 2.3%, respectively [11]

Core Viewpoint - Artisan Value Fund's third-quarter 2025 investor letter indicates that the equity market rally continued, driven by strong corporate earnings, increased AI investment, and favorable US fiscal policies, despite challenges such as tariffs [1]. Fund Performance - The Artisan Value Fund's Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 0.83%, 0.91%, and 0.90% respectively in Q3 2025, underperforming the Russell 1000 Value Index, which returned 5.33% [1]. Stock Highlights - Philip Morris International Inc. (NYSE:PM) was highlighted in the fund's investor letter, showing a one-month return of 3.14% and a 52-week gain of 34.20%, with a closing stock price of $161.05 and a market capitalization of $250.7 billion as of December 26, 2025 [2]. Sector Performance - The fund noted that stock selection was broadly negative across sectors in Q3, particularly in the consumer staples sector, where Philip Morris International Inc. was identified as a laggard contributing to underperformance [3].

Core Viewpoint - British American Tobacco (BTI) is experiencing a divergence in analyst outlook, with Morgan Stanley maintaining a cautious stance while Jefferies expresses strong confidence in the company's growth potential, particularly in smoke-free products [2][3]. Analyst Ratings and Price Targets - Morgan Stanley analyst Rashad Kawan raised the price target for BTI to 3,050 GBp from 3,000 GBp but retained an Underweight rating on the shares [2]. - Jefferies has named BTI as its top pick in the global tobacco sector, citing a sustainable shift towards a smoke-free product portfolio that is not fully reflected in the current share price [3]. Investment Case Factors - Jefferies analyst Andrei Andon-Ionita highlighted several positive factors for BTI, including market share gains in the US modern oral segment, early signs of volume and pricing improvements, and a solid outlook for combustibles through 2026 [4]. - The company's strong balance sheet is expected to allow for continued and meaningful cash returns to shareholders [4]. Growth in Modern Oral Products - Jefferies is more optimistic than the broader Wall Street consensus regarding BTI's growth in modern oral products, particularly in the US, where Velo Plus has seen over 300% growth in both volume and value [5]. - The resilience of the combustibles business is noted, as it continues to generate robust cash flow and margin expansion despite ongoing volume declines [5].