British American Tobacco p.l.c. $BTI Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its British American Tobacco stake by 710.3% in the second quarter, adding 655,908 shares to own 748,245 shares valued at approximately $46.2 million. Institutional investors collectively own 16.16% of BTI.
• BTI shares opened at $54.33, below their 50-day and 200-day moving averages, with a 52-week range of $49.88 to $67.30.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $68.10 target price, despite the company’s latest reported earnings and revenue falling short of consensus estimates.

NewEdge Advisors LLC increased its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 710.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 748,245 shares of the company's stock after buying an additional 655,908 shares during the period. NewEdge Advisors LLC's holdings in British American Tobacco were worth $46,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of British American Tobacco by 34.4% during the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company's stock worth $569,313,000 after acquiring an additional 2,494,576 shares in the last quarter. Orbis Allan Gray Ltd increased its stake 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 valued at $686,473,000 after purchasing an additional 2,482,737 shares in the last quarter. WCM Investment Management LLC raised its holdings in British American Tobacco by 3,899.7% during the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock worth $137,658,000 after purchasing an additional 2,303,743 shares during the last quarter. Raymond James Financial Inc. boosted its position 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 purchasing an additional 1,267,425 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in British American Tobacco in the third 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 NYSE:BTI opened at $54.33 on Thursday. 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. The stock's fifty day simple moving average is $58.68 and its 200-day simple moving average is $59.69.

British American Tobacco (NYSE:BTI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($1.10). The company had revenue of $8.10 billion for the quarter, compared to analysts' expectations of $16.42 billion. On average, research analysts predict that British American Tobacco p.l.c. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BTI. Morgan Stanley restated an "overweight" rating and issued a $68.10 price target on shares of British American Tobacco in a research report on Monday. BTIG Research assumed coverage on shares of British American Tobacco in a research note on Tuesday, July 21st. They issued a "buy" rating on the stock. Weiss Ratings restated a "buy (b)" rating on shares of British American Tobacco in a report on Monday, August 31st. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Citigroup reaffirmed a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

About British American Tobacco

British American Tobacco p.l.c. is a multinational consumer products company focused primarily on tobacco and nicotine products. Its portfolio includes combustible cigarettes, roll-your-own tobacco, cigars and heated tobacco products, as well as newer categories such as vapor products and modern oral nicotine products.

The company markets a range of internationally recognized brands, including Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Newport. Through its U.S. business, Reynolds American, BAT also owns or markets brands such as Camel and Natural American Spirit.

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