British American Tobacco p.l.c. $BTI Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its BTI position by 34.7% in the second quarter, acquiring 79,084 additional shares and bringing its holdings to 307,311 shares valued at approximately $19.0 million.
• Other major institutional investors also expanded their positions, while hedge funds and institutional investors collectively owned 16.16% of British American Tobacco.
• Analyst sentiment remains generally positive, with seven Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and a $62 price target. However, BTI’s latest quarterly results missed estimates, reporting $1.11 EPS versus $2.21 expected.

Wellington Management Group LLP raised its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 34.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,311 shares of the company's stock after buying an additional 79,084 shares during the quarter. Wellington Management Group LLP's holdings in British American Tobacco were worth $18,980,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BTI. Bank of America Corp DE raised its holdings in shares of British American Tobacco by 34.4% during the first quarter. Bank of America Corp DE now owns 9,736,843 shares of the company's stock worth $569,313,000 after purchasing an additional 2,494,576 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of 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 valued at $686,473,000 after buying an additional 2,482,737 shares during the period. WCM Investment Management LLC grew its position in shares of British American Tobacco by 3,899.7% during the 1st quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock valued at $137,658,000 after buying an additional 2,303,743 shares during the last quarter. Raymond James Financial Inc. raised its stake in British American Tobacco by 85.1% during the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company's stock worth $130,515,000 after acquiring an additional 1,267,425 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in British American Tobacco in the third quarter worth about $47,852,000. Institutional investors and hedge funds own 16.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BTI shares. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of British American Tobacco in a report on Tuesday, August 11th. Weiss Ratings reissued a "buy (b)" rating on shares of British American Tobacco in a report on Monday, August 31st. BTIG Research began coverage on British American Tobacco in a research note on Tuesday, July 21st. They set a "buy" rating for the company. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

British American Tobacco Stock Performance

Shares of NYSE:BTI opened at $55.37 on Monday. The firm's 50 day moving average is $59.09 and its two-hundred day moving average is $59.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.50 and a current ratio of 0.84. British American Tobacco p.l.c. has a 52 week low of $49.88 and a 52 week high of $67.30.

British American Tobacco (NYSE:BTI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($1.10). The firm had revenue of $8.10 billion during the quarter, compared to analyst estimates of $16.42 billion. As a group, analysts expect that British American Tobacco p.l.c. will post 4.86 EPS for the current fiscal year.

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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