British American Tobacco (NYSE:BTI) Hits New 12-Month High - Here's Why

British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.32 and last traded at $50.02, with a volume of 1932652 shares. The stock had previously closed at $49.09.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays restated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday. Bank of America began coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group started coverage on shares of British American Tobacco in a research note on Wednesday. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

British American Tobacco Stock Up 3.6%

The company has a market cap of $104.98 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 4.56 and a beta of 0.33. The firm's 50-day moving average price is $46.05 and its 200-day moving average price is $41.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.52.

British American Tobacco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.7391 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a yield of 5.99%. British American Tobacco's dividend payout ratio is presently 60.78%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rosenberg Matthew Hamilton boosted its position in British American Tobacco by 87.0% during the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after purchasing an additional 280 shares during the period. Golden State Wealth Management LLC grew its position in British American Tobacco by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after purchasing an additional 305 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of British American Tobacco in the 4th quarter valued at approximately $26,000. Financial Management Professionals Inc. increased its holdings in shares of British American Tobacco by 78.5% during the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after acquiring an additional 278 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in British American Tobacco by 292.7% during the first quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the period. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.