Belpointe Asset Management LLC Trims Position in British American Tobacco p.l.c. $BTI

Key Points

• Belpointe Asset Management LLC reduced its stake in British American Tobacco by 43.3%, selling 17,549 shares to hold 22,984 shares valued at $951,000 at the end of the first quarter.
• Other institutional investors, including Ameriprise Financial Inc. and BNP Paribas Financial Markets, increased their positions, with Ameriprise boosting its holdings by 108.8%.
• Equities analysts have mixed opinions on BTI, with Royal Bank of Canada downgrading the stock while Argus upgraded it to a buy rating with a target price of $62.00.

Belpointe Asset Management LLC cut its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 43.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,984 shares of the company's stock after selling 17,549 shares during the quarter. Belpointe Asset Management LLC's holdings in British American Tobacco were worth $951,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of British American Tobacco by 108.8% during the 4th quarter. Ameriprise Financial Inc. now owns 474,111 shares of the company's stock valued at $17,242,000 after purchasing an additional 247,018 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of British American Tobacco by 21.8% during the 4th quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock valued at $2,979,000 after purchasing an additional 14,655 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of British American Tobacco by 90.1% during the 4th quarter. Baird Financial Group Inc. now owns 6,973 shares of the company's stock valued at $253,000 after purchasing an additional 3,304 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of British American Tobacco by 10.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 337,799 shares of the company's stock valued at $12,269,000 after purchasing an additional 31,722 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of British American Tobacco by 16.0% during the 4th quarter. Quantinno Capital Management LP now owns 152,262 shares of the company's stock valued at $5,530,000 after purchasing an additional 21,000 shares in the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Trading Up 1.8%

Shares of BTI opened at $57.30 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $59.29. The firm has a 50-day moving average price of $54.66 and a 200 day moving average price of $47.24. The firm has a market capitalization of $118.02 billion, a P/E ratio of 11.77, a P/E/G ratio of 3.86 and a beta of 0.40.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BTI shares. Royal Bank Of Canada lowered shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a report on Tuesday, September 2nd. Argus upgraded British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 target price on the stock in a research report on Monday. Barclays reissued an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Morgan Stanley reissued an "underweight" rating and issued a $40.00 price target on shares of British American Tobacco in a report on Friday, August 15th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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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