British American Tobacco (NYSE:BTI) Hits New 12-Month High - What's Next?

Key Points

• British American Tobacco shares have reached a new 52-week high at $58.70, which is a significant increase from the previous closing price of $57.47.
• Several analysts have given mixed ratings on the stock, with four analysts recommending a Buy and one recommending a Sell, leading to a consensus rating of "Moderate Buy."
• The company has declared a recent dividend of $0.7391 per share, resulting in a high dividend yield of 599.0%, despite plans to cut dividends overall.

Shares of British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $58.70 and last traded at $58.69, with a volume of 608464 shares. The stock had previously closed at $57.47.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Bank of America initiated coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $40.00 price target on shares of British American Tobacco in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

British American Tobacco Trading Down 1.2%

The stock has a market cap of $119.01 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 2.35 and a beta of 0.38. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $52.37 and a 200-day simple moving average of $45.72.

British American Tobacco Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th were issued a $0.7391 dividend. The ex-dividend date was Friday, June 27th. This represents a dividend yield of 599.0%. British American Tobacco's dividend payout ratio is currently 60.57%.

Hedge Funds Weigh In On British American Tobacco

Large investors have recently made changes to their positions in the business. Rosenberg Matthew Hamilton increased its holdings in shares of British American Tobacco by 87.0% in 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 increased its holdings in shares of British American Tobacco by 100.0% in the 1st 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 during the period. Cary Street Partners Financial LLC acquired a new position in shares of British American Tobacco in the 2nd quarter valued at about $30,000. Financial Management Professionals Inc. increased its holdings in shares of British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after purchasing an additional 278 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of British American Tobacco by 292.7% in the 1st quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 16.16% of the company's stock.

About British American Tobacco

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.