Ativo Capital Management LLC Purchases 18,318 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Ativo Capital Management LLC increased its stake in British American Tobacco by 107.6%, acquiring 18,318 shares, resulting in a total of 35,346 shares valued at approximately $1.67 million.
• Other hedge funds also boosted their holdings in British American Tobacco, with notable increases from Orbis Allan Gray Ltd and GQG Partners LLC, indicating a growing interest among institutional investors.
• British American Tobacco's stock currently has a market cap of $104.37 billion and a price-to-earnings ratio of 10.43, alongside a consensus price target of $51.00 from analysts.

Ativo Capital Management LLC boosted its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 107.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,346 shares of the company's stock after purchasing an additional 18,318 shares during the period. British American Tobacco comprises 1.5% of Ativo Capital Management LLC's holdings, making the stock its 19th biggest holding. Ativo Capital Management LLC's holdings in British American Tobacco were worth $1,673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Orbis Allan Gray Ltd grew its stake in shares of British American Tobacco by 20.4% during the first quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company's stock valued at $497,318,000 after buying an additional 2,040,011 shares during the last quarter. GQG Partners LLC grew its position in British American Tobacco by 59.8% in the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock valued at $397,089,000 after acquiring an additional 3,590,916 shares during the last quarter. Newport Trust Company LLC grew its position in British American Tobacco by 1.1% in the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company's stock valued at $114,779,000 after acquiring an additional 31,205 shares during the last quarter. Northern Trust Corp boosted its stake in shares of British American Tobacco by 1.5% during the first quarter. Northern Trust Corp now owns 2,473,942 shares of the company's stock valued at $102,347,000 after purchasing an additional 35,926 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of British American Tobacco by 3.0% during the first quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock valued at $59,866,000 after purchasing an additional 42,531 shares during the period. Institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of BTI stock opened at $50.79 on Tuesday. The firm has a market cap of $104.37 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 3.57 and a beta of 0.42. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The company's 50 day moving average is $55.29 and its 200 day moving average is $49.29.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BTI. Jefferies Financial Group began coverage on shares of British American Tobacco in a research note on Wednesday, July 9th. They set a "buy" rating for the company. Argus raised shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective for the company in a research report on Monday, September 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of British American Tobacco in a research note on Wednesday, October 8th. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada downgraded British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, British American Tobacco has an average rating of "Hold" and a consensus price target of $51.00.

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.

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