Allianz SE Takes Position in British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Allianz SE has acquired a new stake in British American Tobacco, purchasing 4,680 shares valued at approximately $194,000.
• Several other hedge funds have also increased their positions in British American Tobacco, with Scotia Capital growing its stake by 33.0% in the first quarter.
• Stock analysts maintain a mixed outlook on British American Tobacco, with ratings ranging from buy to hold, and an average target price of $33.00.

Allianz SE acquired a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,680 shares of the company's stock, valued at approximately $194,000.

A number of other hedge funds have also recently modified their holdings of the business. Scotia Capital Inc. grew its position in shares of British American Tobacco by 33.0% during the 1st quarter. Scotia Capital Inc. now owns 51,411 shares of the company's stock valued at $2,127,000 after acquiring an additional 12,758 shares during the period. PNC Financial Services Group Inc. boosted its holdings in British American Tobacco by 7.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 45,662 shares of the company's stock worth $1,889,000 after buying an additional 3,074 shares during the period. US Bancorp DE boosted its holdings in British American Tobacco by 19.7% in the 1st quarter. US Bancorp DE now owns 91,804 shares of the company's stock worth $3,798,000 after buying an additional 15,120 shares during the period. Harbour Investments Inc. boosted its holdings in British American Tobacco by 14.3% in the 1st quarter. Harbour Investments Inc. now owns 2,395 shares of the company's stock worth $99,000 after buying an additional 300 shares during the period. Finally, CAP Partners LLC bought a new position in British American Tobacco in the 1st quarter worth $228,000. Institutional investors own 16.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BTI shares. Jefferies Financial Group started coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Bank of America started coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They issued a "buy" rating for the company. Finally, Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.00.

British American Tobacco Stock Up 2.2%

BTI opened at $55.54 on Tuesday. The firm has a 50-day simple moving average of $49.34 and a two-hundred day simple moving average of $43.89. British American Tobacco p.l.c. has a 52 week low of $34.12 and a 52 week high of $55.95. The company has a market capitalization of $114.57 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 2.13 and a beta of 0.38. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68.

British American Tobacco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.7391 per share. This represents a dividend yield of 599.0%. The ex-dividend date of this dividend is Friday, June 27th. British American Tobacco's dividend payout ratio is 60.78%.

British American Tobacco Company Profile

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.

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