23,166 Shares in British American Tobacco p.l.c. $BTI Acquired by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors initiated a position of 23,166 British American Tobacco shares in the third quarter, valued at approximately $1.26 million.
• Other institutional investors also increased holdings, and institutional investors collectively own 16.16% of the stock.
• Analysts have a Moderate Buy consensus rating and an average price target of $68.10; the shares opened at $62.96 after a reported 3.4% gain.

Provenance Wealth Advisors LLC acquired a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,166 shares of the company's stock, valued at approximately $1,260,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in British American Tobacco by 34.4% in the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company's stock valued at $569,313,000 after acquiring an additional 2,494,576 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of British American Tobacco by 3,899.7% in the 1st quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock worth $137,658,000 after purchasing an additional 2,303,743 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of British American Tobacco by 710.3% in the 2nd quarter. NewEdge Advisors LLC now owns 748,245 shares of the company's stock worth $46,212,000 after purchasing an additional 655,908 shares in the last quarter. Maple Rock Capital Partners Inc. raised its stake in shares of British American Tobacco by 36.3% in the second quarter. Maple Rock Capital Partners Inc. now owns 2,166,000 shares of the company's stock worth $133,772,000 after purchasing an additional 576,900 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of British American Tobacco by 75.3% in the first quarter. Sei Investments Co. now owns 1,303,646 shares of the company's stock worth $76,223,000 after purchasing an additional 559,858 shares during the last quarter. 16.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTI. Morgan Stanley reiterated an "overweight" rating and set a $68.10 target price on shares of British American Tobacco in a research note on Monday, September 7th. Morningstar raised British American Tobacco to a "buy" rating in a report on Thursday, September 10th. The Goldman Sachs Group upgraded British American Tobacco from a "neutral" rating to a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of British American Tobacco in a report on Thursday, October 1st. Finally, BTIG Research assumed coverage on British American Tobacco in a research report on Tuesday, July 21st. They set a "buy" rating for the company. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.10.

British American Tobacco Stock Up 3.4%

NYSE BTI opened at $62.96 on Thursday. The stock has a 50 day moving average price of $56.82 and a 200-day moving average price of $59.20. British American Tobacco p.l.c. has a one year low of $52.06 and a one year high of $67.30. The company has a current ratio of 0.84, a quick ratio of 0.50 and a debt-to-equity ratio of 0.64.

About British American Tobacco

British American Tobacco p.l.c. NYSE: BTI is a multinational tobacco and nicotine products company headquartered in London, United Kingdom. The company develops, manufactures and markets combustible tobacco products, including cigarettes and other traditional tobacco products, as well as a growing portfolio of potentially reduced-risk nicotine products.

Its brands include Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Newport, along with non-combustible products such as Vuse vapor products, glo heated tobacco products and Velo modern oral nicotine pouches.

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