First Sabrepoint Capital Management LP Buys New Position in British American Tobacco p.l.c. $BTI

Key Points

• First Sabrepoint Capital Management LP acquired 185,000 shares of British American Tobacco, valued at approximately $7.65 million, making it the firm's 15th largest position.
• Several other hedge funds have also increased their holdings, with Baird Financial Group Inc. boosting its stake by 34.3% in the first quarter.
• British American Tobacco's stock is currently trading at $56.85 with a market capitalization of $117.09 billion, reflecting a 1.1% increase in share price.

First Sabrepoint Capital Management LP bought a new position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 185,000 shares of the company's stock, valued at approximately $7,653,000. British American Tobacco makes up approximately 2.8% of First Sabrepoint Capital Management LP's portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton raised its position in British American Tobacco by 87.0% during the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock worth $25,000 after acquiring an additional 280 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in British American Tobacco by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after buying an additional 305 shares during the last quarter. Ameriflex Group Inc. purchased a new position in British American Tobacco during the fourth quarter worth $26,000. Financial Management Professionals Inc. lifted its position in shares of British American Tobacco by 78.5% in the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after acquiring an additional 278 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of British American Tobacco by 292.7% during the first quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

British American Tobacco Price Performance

BTI traded down $0.19 on Wednesday, hitting $55.06. 7,793,659 shares of the company's stock were exchanged, compared to its average volume of 4,196,793. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The stock has a fifty day moving average of $53.45 and a two-hundred day moving average of $46.44. British American Tobacco p.l.c. has a twelve month low of $34.17 and a twelve month high of $59.29.

Analysts Set New Price Targets

BTI has been the topic of several recent analyst reports. Royal Bank Of Canada downgraded British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday. Jefferies Financial Group began coverage on British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Barclays reiterated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Morgan Stanley reiterated an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $40.00.

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.