44 Wealth Management LLC Acquires 24,325 Shares of British American Tobacco p.l.c. $BTI

Key Points

• 44 Wealth Management LLC increased its British American Tobacco stake by 92.9% in the first quarter, buying 24,325 additional shares and bringing its total to 50,496 shares worth about $2.95 million.
• Several other institutional investors also boosted BTI holdings, and overall institutional ownership stands at 16.16% of the company’s stock.
• Analyst sentiment is generally positive: BTI has a Moderate Buy consensus rating, with seven Buy ratings and an average price target of $51.00.

44 Wealth Management LLC lifted its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 92.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,496 shares of the company's stock after purchasing an additional 24,325 shares during the quarter. British American Tobacco accounts for 1.0% of 44 Wealth Management LLC's holdings, making the stock its 24th biggest holding. 44 Wealth Management LLC's holdings in British American Tobacco were worth $2,952,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BTI. Orbis Allan Gray Ltd boosted its holdings in shares of British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock valued at $686,473,000 after purchasing an additional 2,482,737 shares in the last quarter. WCM Investment Management LLC boosted its stake in British American Tobacco by 3,899.7% in the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock valued at $137,658,000 after buying an additional 2,303,743 shares in the last quarter. Bank of America Corp DE grew its position in British American Tobacco by 29.5% in the third quarter. Bank of America Corp DE now owns 6,934,792 shares of the company's stock valued at $368,099,000 after acquiring an additional 1,578,860 shares during the last quarter. Raymond James Financial Inc. grew its position in British American Tobacco by 85.1% in the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company's stock valued at $130,515,000 after acquiring an additional 1,267,425 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in British American Tobacco during the third quarter worth about $47,852,000. Institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BTI shares. Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. BTIG Research started coverage on British American Tobacco in a research report on Tuesday. They issued a "buy" rating for the company. Citigroup reaffirmed a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, British American Tobacco presently has an average rating of "Moderate Buy" and an average price target of $51.00.

British American Tobacco Stock Performance

BTI opened at $60.89 on Friday. British American Tobacco p.l.c. has a 1-year low of $49.88 and a 1-year high of $67.30. The company's fifty day moving average price is $61.60 and its two-hundred day moving average price is $59.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

British American Tobacco Profile

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.

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