British American Tobacco (NYSE:BTI) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• British American Tobacco has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analysts' confidence regarding the stock.
• Despite the downgrade, the stock maintains a consensus rating of "Moderate Buy" with an average price target of $33.00 based on recent analyses from multiple firms.
• Institutional investors are actively increasing their holdings in British American Tobacco, with several hedge funds demonstrating significant increases in their positions during the first quarter.

Wall Street Zen cut shares of British American Tobacco (NYSE:BTI - Free Report) from a buy rating to a hold rating in a report released on Saturday.

Other analysts have also issued research reports about the company. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Bank of America initiated coverage on shares of British American Tobacco in a research report on Wednesday, April 30th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.00.

British American Tobacco Trading Up 0.7%

Shares of British American Tobacco stock traded up $0.35 during mid-day trading on Friday, hitting $52.13. The stock had a trading volume of 601,268 shares, compared to its average volume of 5,781,925. The firm has a 50-day moving average of $48.43 and a two-hundred day moving average of $43.26. British American Tobacco has a 12-month low of $34.12 and a 12-month high of $52.98. The company has a quick ratio of 0.52, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The firm has a market cap of $107.53 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 4.83 and a beta of 0.33.

British American Tobacco Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th will be paid a $0.7391 dividend. The ex-dividend date is Friday, June 27th. This represents a dividend yield of 5.99%. British American Tobacco's dividend payout ratio (DPR) is presently 60.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in shares of British American Tobacco by 1.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 493,451 shares of the company's stock worth $17,922,000 after purchasing an additional 7,875 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of British American Tobacco by 24.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company's stock worth $221,343,000 after purchasing an additional 1,196,020 shares during the period. Cove Street Capital LLC acquired a new stake in shares of British American Tobacco during the fourth quarter worth $1,050,000. BNP Paribas Financial Markets raised its holdings in shares of British American Tobacco by 21.8% during the fourth quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock worth $2,979,000 after purchasing an additional 14,655 shares during the period. Finally, Consolidated Portfolio Review Corp acquired a new stake in shares of British American Tobacco in the 1st quarter worth about $375,000. 16.16% of the stock is currently owned by hedge funds and other 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.