British American Tobacco p.l.c. $BTI is Opal Capital LLC's 5th Largest Position

Key Points

• Opal Capital increased its British American Tobacco position by 30.9% in the first quarter, ending with 224,796 shares valued at approximately $13.1 million. BTI now represents about 2.3% of the firm’s portfolio and is its fifth-largest holding.
• Several other institutional investors also expanded their stakes, including Orbis Allan Gray, WCM Investment Management, Bank of America and Raymond James. Hedge funds and institutions collectively own 16.16% of BTI.
• BTI shares opened at $62.34, near the upper end of their 12-month range, while analysts give the stock a consensus “Moderate Buy” rating. However, the average price target of $51.00 is below the current share price.

Opal Capital LLC raised its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 30.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,796 shares of the company's stock after purchasing an additional 53,098 shares during the quarter. British American Tobacco makes up approximately 2.3% of Opal Capital LLC's holdings, making the stock its 5th biggest position. Opal Capital LLC's holdings in British American Tobacco were worth $13,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orbis Allan Gray Ltd increased its holdings in British American Tobacco by 20.7% in the second 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 during the last quarter. WCM Investment Management LLC lifted its stake in British American Tobacco by 3,899.7% in the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock valued at $137,658,000 after acquiring an additional 2,303,743 shares during the last quarter. Bank of America Corp DE grew its position 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 worth $368,099,000 after acquiring an additional 1,578,860 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of British American Tobacco by 85.1% during the 2nd 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 last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of British American Tobacco during the 3rd quarter valued at $47,852,000. 16.16% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Price Performance

Shares of BTI stock opened at $62.34 on Wednesday. British American Tobacco p.l.c. has a 12 month low of $49.88 and a 12 month high of $67.30. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $61.41 and a 200-day moving average of $60.13.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BTI shares. 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. Morgan Stanley reaffirmed an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. BTIG Research initiated coverage on British American Tobacco in a research note on Tuesday, July 21st. They issued a "buy" rating on the stock. Finally, Citigroup restated a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, British American Tobacco has a consensus rating of "Moderate Buy" and an average price target of $51.00.

About British American Tobacco

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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