British American Tobacco p.l.c. (NYSE:BTI) Sees Large Decrease in Short Interest

Key Points

• Short interest in British American Tobacco fell sharply by 38.4% in April to 8,004,220 shares (about 0.3% of the float) with a short-interest ratio of 1.8 days.
• The company declared a quarterly dividend of $0.8349 (annualized $3.34), implying a 5.8% yield; investors of record on Dec. 29 will be paid on Feb. 8.
• BTI traded at $57.37 (down 1.2%) with a 52‑week range of $40.12–$63.22; analysts’ consensus is a Moderate Buy with a $51.00 price target and institutional ownership around 16.2%.

British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 8,004,220 shares, a decrease of 38.4% from the March 31st total of 13,003,562 shares. Based on an average daily trading volume, of 4,512,344 shares, the short-interest ratio is presently 1.8 days. Approximately 0.3% of the company's stock are short sold.

Hedge Funds Weigh In On British American Tobacco

Several hedge funds have recently modified their holdings of BTI. AQR Capital Management LLC lifted its holdings in shares of British American Tobacco by 35.2% during the first quarter. AQR Capital Management LLC now owns 27,914 shares of the company's stock worth $1,155,000 after buying an additional 7,270 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of British American Tobacco by 42.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company's stock worth $400,000 after acquiring an additional 2,521 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of British American Tobacco by 10.2% in the 2nd quarter. Rhumbline Advisers now owns 6,017 shares of the company's stock worth $285,000 after acquiring an additional 559 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of British American Tobacco by 58.6% in the 2nd quarter. Baird Financial Group Inc. now owns 14,853 shares of the company's stock worth $703,000 after acquiring an additional 5,486 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of British American Tobacco by 5.4% in the 2nd quarter. Brown Advisory Inc. now owns 15,967 shares of the company's stock worth $756,000 after acquiring an additional 816 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Stock Down 1.2%

BTI traded down $0.72 during trading hours on Monday, hitting $57.37. The company's stock had a trading volume of 2,285,706 shares, compared to its average volume of 4,813,833. British American Tobacco has a fifty-two week low of $40.12 and a fifty-two week high of $63.22. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $59.01 and a 200 day simple moving average of $57.17.

British American Tobacco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a $0.8349 dividend. This represents a $3.34 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, December 29th.

Analysts Set New Price Targets

BTI has been the subject of a number of analyst reports. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a report on Sunday, April 5th. Weiss Ratings raised British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, British American Tobacco currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.