British American Tobacco p.l.c. $BTI Holdings Cut by China Universal Asset Management Co. Ltd.

Key Points

• China Universal Asset Management cut its stake in British American Tobacco by 42.2% in Q4, selling 45,101 shares and leaving it with 61,857 shares worth $3.54 million.
• British American Tobacco declared a quarterly dividend of $0.8349 per share (annualized $3.34), implying a 5.8% yield; the ex-dividend date is Dec. 29 and the payment date is Feb. 8.
• Several large institutions materially increased holdings—most notably Capital World Investors bought ~9.4 million shares to hold 9.47 million—while hedge funds and other institutional investors collectively own about 16.16% of the company.

China Universal Asset Management Co. Ltd. decreased its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,857 shares of the company's stock after selling 45,101 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in British American Tobacco were worth $3,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BTI. Capital World Investors lifted its position in British American Tobacco by 12,870.7% in the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company's stock worth $502,687,000 after buying an additional 9,397,693 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in 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 worth $686,473,000 after buying an additional 2,482,737 shares in the last quarter. Capital International Investors lifted its position in British American Tobacco by 3.0% in the 3rd quarter. Capital International Investors now owns 64,057,419 shares of the company's stock worth $3,399,352,000 after buying an additional 1,891,042 shares in the last quarter. Bank of America Corp DE lifted its position in British American Tobacco by 29.5% in the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company's stock worth $368,099,000 after buying an additional 1,578,860 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in British American Tobacco by 85.1% in the 2nd quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company's stock worth $130,515,000 after buying an additional 1,267,425 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Up 2.0%

BTI stock opened at $57.30 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. British American Tobacco p.l.c. has a 12 month low of $40.12 and a 12 month high of $63.22. The firm has a 50 day moving average of $59.04 and a two-hundred day moving average of $57.05.

British American Tobacco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be issued a dividend of $0.8349 per share. This represents a $3.34 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, December 29th.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday, April 5th. Weiss Ratings raised shares of British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Company 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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