British American Tobacco p.l.c. $BTI Shares Bought by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC significantly increased its holdings in British American Tobacco by 433.8% during the second quarter, owning a total of 105,925 shares valued at approximately $5.01 million.
• Several hedge funds have also increased their stakes, with Orbis Allan Gray Ltd growing its investment by 20.4% and GQG Partners LLC by 59.8% in the first quarter.
• Despite some analysts issuing mixed ratings, the consensus rating for British American Tobacco is currently "Hold" with an average price target of $51.00.

DAVENPORT & Co LLC raised its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 433.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,925 shares of the company's stock after acquiring an additional 86,081 shares during the period. DAVENPORT & Co LLC's holdings in British American Tobacco were worth $5,013,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Orbis Allan Gray Ltd grew its stake in shares of British American Tobacco by 20.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company's stock valued at $497,318,000 after buying an additional 2,040,011 shares during the period. GQG Partners LLC grew its stake in shares of British American Tobacco by 59.8% in the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock valued at $397,089,000 after buying an additional 3,590,916 shares during the period. Newport Trust Company LLC grew its stake in shares of British American Tobacco by 1.1% in the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company's stock valued at $114,779,000 after buying an additional 31,205 shares during the period. Northern Trust Corp grew its stake in shares of British American Tobacco by 1.5% in the 1st quarter. Northern Trust Corp now owns 2,473,942 shares of the company's stock valued at $102,347,000 after buying an additional 35,926 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of British American Tobacco by 3.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock valued at $59,866,000 after buying an additional 42,531 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BTI shares. Royal Bank Of Canada cut shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a research note on Tuesday, September 2nd. Morgan Stanley reaffirmed an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. Finally, Argus raised shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective for the company in a research report on Monday, September 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, British American Tobacco currently has a consensus rating of "Hold" and an average price target of $51.00.

British American Tobacco Price Performance

British American Tobacco stock opened at $52.03 on Wednesday. The firm has a market cap of $107.05 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The company's 50 day moving average is $55.53 and its two-hundred day moving average is $48.94.

British American Tobacco Company Profile

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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