British American Tobacco p.l.c. $BTI Shares Purchased by M&T Bank Corp

Key Points

• M&T Bank Corp increased its stake in British American Tobacco by 74.6% in Q4, adding 43,886 shares to own 102,703 shares valued at $5.815 million.
• British American Tobacco announced a quarterly dividend of $0.8349 per share (annualized $3.34), a yield of 5.7%, with record/ex-dividend date on Dec 29 and payment on Feb 8.
• Analyst consensus is a "Moderate Buy" (8 Buys, 2 Sells) with an average target of $51, while the stock trades near $58.16 within a 12‑month range of $40.12–$63.22.

M&T Bank Corp boosted its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 74.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,703 shares of the company's stock after acquiring an additional 43,886 shares during the quarter. M&T Bank Corp's holdings in British American Tobacco were worth $5,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BTI. True Wealth Design LLC acquired a new position in British American Tobacco in the third quarter valued at $29,000. Cary Street Partners Financial LLC acquired a new position in British American Tobacco during the second quarter valued at approximately $30,000. Binnacle Investments Inc lifted its position in British American Tobacco by 163.2% during the third quarter. Binnacle Investments Inc now owns 750 shares of the company's stock valued at $40,000 after buying an additional 465 shares in the last quarter. Westside Investment Management Inc. lifted its position in British American Tobacco by 100.0% during the third quarter. Westside Investment Management Inc. now owns 782 shares of the company's stock valued at $41,000 after buying an additional 391 shares in the last quarter. Finally, City Holding Co. acquired a new position in British American Tobacco during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 16.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BTI. 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. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Sunday, April 5th. Eight research analysts have rated the stock with a Buy rating and two have given 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 Stock Up 1.5%

BTI opened at $58.16 on Friday. The firm's fifty day moving average price is $59.01 and its 200 day moving average price is $57.14. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 12-month low of $40.12 and a 12-month high of $63.22.

British American Tobacco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 annualized dividend and a yield of 5.7%.

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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