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

Key Points

• British American Tobacco (NYSE:BTI) shares hit a new 52-week high of $57.60, showing notable trading activity with a volume of 60,982 shares.
• Despite a recent dividend cut, the company announced a $0.7391 dividend, reflecting a high yield of 599.0%.
• Market analysts have mixed opinions on the stock, with one downgrade to a "hold" rating and four "buy" ratings, resulting in an average rating of "Moderate Buy."

British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $57.60 and last traded at $57.60, with a volume of 60982 shares trading hands. The stock had previously closed at $57.24.

Wall Street Analysts Forecast Growth

BTI has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They set a "buy" rating for the company. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Barclays reissued an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Bank of America assumed coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating for the company. Finally, Morgan Stanley reissued an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.00.

British American Tobacco Stock Performance

The stock's 50-day moving average price is $51.36 and its 200-day moving average price is $45.01. 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 market capitalization of $117.69 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.26 and a beta of 0.38.

British American Tobacco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, June 30th were given a $0.7391 dividend. The ex-dividend date was Friday, June 27th. This represents a yield of 599.0%. British American Tobacco's dividend payout ratio (DPR) is currently 64.68%.

Institutional Trading of British American Tobacco

Several hedge funds have recently bought and sold shares of BTI. Lockheed Martin Investment Management Co. grew its stake in shares of British American Tobacco by 27.7% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company's stock worth $5,833,000 after purchasing an additional 30,600 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in British American Tobacco by 21.8% in the fourth quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock valued at $2,979,000 after acquiring an additional 14,655 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in British American Tobacco in the first quarter valued at approximately $375,000. Atria Wealth Solutions Inc. lifted its stake in British American Tobacco by 28.8% in the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock valued at $1,074,000 after acquiring an additional 5,745 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of British American Tobacco by 12.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 233,271 shares of the company's stock worth $9,650,000 after buying an additional 24,962 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors.

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.