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

Key Points

• FNY Investment Advisers cut its British American Tobacco stake by 80.7% in the second quarter, selling 22,100 shares and retaining 5,300 shares valued at approximately $327,000.
• Other major institutional investors increased their positions, including Orbis Allan Gray and Bank of America, while hedge funds and institutions collectively owned 16.16% of BTI.
• BTI shares opened at $59.38, near their 50-day and 200-day moving averages. Analysts maintained a generally positive outlook, with seven Buy ratings, one Sell rating, and a consensus “Moderate Buy” rating.

FNY Investment Advisers LLC reduced its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 80.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,300 shares of the company's stock after selling 22,100 shares during the period. FNY Investment Advisers LLC's holdings in British American Tobacco were worth $327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BTI. Capital International Investors grew its holdings in shares of British American Tobacco by 0.5% during the fourth quarter. Capital International Investors now owns 64,389,481 shares of the company's stock worth $3,645,500,000 after buying an additional 332,062 shares during the last quarter. Capital Research Global Investors raised its stake in British American Tobacco by 1.2% during the 4th quarter. Capital Research Global Investors now owns 22,333,402 shares of the company's stock valued at $1,264,512,000 after acquiring an additional 264,511 shares during the last quarter. Orbis Allan Gray Ltd raised its stake in British American Tobacco by 20.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock valued at $686,473,000 after acquiring an additional 2,482,737 shares during the last quarter. Bank of America Corp DE lifted its position in 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 during the period. Finally, Capital World Investors grew its position in British American Tobacco by 0.5% in the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company's stock valued at $538,935,000 after buying an additional 47,858 shares during the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Stock Up 1.1%

NYSE:BTI opened at $59.38 on Friday. The firm's fifty day simple moving average is $60.73 and its 200-day simple moving average is $60.31. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. British American Tobacco p.l.c. has a fifty-two week low of $49.88 and a fifty-two week high of $67.30.

Wall Street Analyst Weigh In

Several research firms have recently commented on BTI. Weiss Ratings upgraded shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. BTIG Research initiated coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They set a "buy" rating for the company. Morgan Stanley restated an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research report on Thursday, May 14th. Finally, Wall Street Zen raised British American Tobacco from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, British American Tobacco currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

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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