British American Tobacco (NYSE:BTI) Hits New 52-Week High - Here's What Happened

Key Points

• British American Tobacco reached a new 52-week high with its stock price trading at $55.95, reflecting positive market activity.
• Analysts have generally shown optimism with a consensus rating of "Moderate Buy", although Wall Street Zen has downgraded the stock from "buy" to "hold".
• The company announced a dividend of $0.7391 which yields an impressive 599.0%, although it has a dividend payout ratio of 60.78%.

British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $55.95 and last traded at $55.54, with a volume of 6574502 shares. The stock had previously closed at $54.35.

Wall Street Analyst Weigh In

BTI has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Bank of America initiated coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating for the company. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group assumed coverage on British American Tobacco in a report on Wednesday, July 9th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.00.

British American Tobacco Price Performance

The stock has a market capitalization of $116.94 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.22 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 firm has a 50 day moving average price of $50.01 and a 200 day moving average price of $44.20.

British American Tobacco Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were issued a dividend of $0.7391 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a yield of 599.0%. British American Tobacco's payout ratio is currently 64.68%.

Institutional Investors Weigh In On British American Tobacco

A number of institutional investors and hedge funds have recently bought and sold shares of BTI. World Investment Advisors grew its holdings in British American Tobacco by 44.2% during the 4th quarter. World Investment Advisors now owns 7,930 shares of the company's stock valued at $288,000 after buying an additional 2,430 shares in the last quarter. FMR LLC raised its stake in British American Tobacco by 44.0% during the fourth quarter. FMR LLC now owns 10,232,402 shares of the company's stock valued at $371,641,000 after purchasing an additional 3,127,046 shares in the last quarter. Bank of Montreal Can lifted its position in British American Tobacco by 2,565.4% during the fourth quarter. Bank of Montreal Can now owns 2,079,322 shares of the company's stock valued at $75,521,000 after purchasing an additional 2,001,311 shares during the last quarter. DRW Securities LLC grew its stake in shares of British American Tobacco by 18.2% in the 4th quarter. DRW Securities LLC now owns 78,314 shares of the company's stock worth $2,844,000 after buying an additional 12,050 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of British American Tobacco in the 4th quarter worth about $950,000. 16.16% of the stock is 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.