Bessemer Group Inc. Buys 24,750 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Bessemer Group Inc. increased its stake in British American Tobacco by 1,039.9% in the first quarter, buying 24,750 additional shares and bringing its total holdings to 27,130 shares worth about $1.59 million.
• Several other institutional investors also raised their positions in BTI, and the stock is currently about 16.16% owned by institutions, highlighting continued professional investor interest.
• Wall Street sentiment remains mostly positive: the stock has a Moderate Buy consensus rating with a $51 target price, though BTI was trading at $62.04 and analysts are mixed, with seven Buy ratings and one Sell.

Bessemer Group Inc. boosted its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 1,039.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,130 shares of the company's stock after buying an additional 24,750 shares during the quarter. Bessemer Group Inc.'s holdings in British American Tobacco were worth $1,586,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Orbis Allan Gray Ltd raised its position in shares of British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock worth $686,473,000 after acquiring an additional 2,482,737 shares during the last quarter. Bank of America Corp DE boosted its holdings 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. increased 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 worth $130,515,000 after purchasing an additional 1,267,425 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in British American Tobacco during the 3rd quarter worth about $47,852,000. Finally, SG Americas Securities LLC lifted its position in British American Tobacco by 771.1% during the 4th quarter. SG Americas Securities LLC now owns 739,687 shares of the company's stock valued at $41,881,000 after purchasing an additional 654,769 shares during the period. 16.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

British American Tobacco Stock Up 1.0%

British American Tobacco stock opened at $62.04 on Thursday. British American Tobacco p.l.c. has a 1 year low of $49.88 and a 1 year high of $67.30. The business has a 50-day moving average of $61.82 and a 200-day moving average of $59.95. 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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