British American Tobacco p.l.c. $BTI Shares Sold by FNY Investment Advisers LLC

Key Points

• FNY Investment Advisers LLC cut its stake in British American Tobacco by 65.4% in Q4, selling 23,200 shares and leaving it with 12,300 shares valued at about $696,000.
• Large institutions boosted positions: Capital International Investors now owns ~64.06M shares (~$3.40B) and Capital World Investors added ~9.40M shares to hold ~9.47M shares (~$502.7M).
• Analysts carry a “Moderate Buy” consensus with an average target of $51.00, and the company recently declared a quarterly dividend of $0.8349 (annualized $3.34) for a yield of about 5.7%.

FNY Investment Advisers LLC lowered its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 65.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,300 shares of the company's stock after selling 23,200 shares during the period. FNY Investment Advisers LLC's holdings in British American Tobacco were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors increased its stake in British American Tobacco by 12,870.7% during the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company's stock worth $502,687,000 after buying an additional 9,397,693 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of British American Tobacco by 2,066.9% in the second quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company's stock valued at $164,519,000 after acquiring an additional 3,315,589 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of 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 acquiring an additional 2,482,737 shares during the last quarter. Capital International Investors increased its position in shares of British American Tobacco by 3.0% during the third quarter. Capital International Investors now owns 64,057,419 shares of the company's stock worth $3,399,352,000 after purchasing an additional 1,891,042 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of British American Tobacco by 29.5% during the third quarter. Bank of America Corp DE now owns 6,934,792 shares of the company's stock worth $368,099,000 after purchasing an additional 1,578,860 shares in the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BTI shares. Weiss Ratings upgraded British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Kepler Capital Markets initiated coverage on shares of British American Tobacco in a research note on Friday, December 12th. They issued a "buy" rating on the stock. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Stock Performance

Shares of British American Tobacco stock opened at $58.31 on Friday. The business's 50 day moving average price is $59.97 and its 200 day moving average price is $56.63. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a one year low of $37.96 and a one year high of $63.22.

British American Tobacco Announces Dividend

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

British American Tobacco Company 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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