British American Tobacco p.l.c. $BTI Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its stake in British American Tobacco by 32.2% in Q3, selling 798,181 shares and now holds 1,683,925 shares valued at about $89.38 million (≈0.08% of the company).
• Dividend announced: BAT declared a quarterly dividend of $0.8349 per share (annualized $3.34), a yield of 5.8%, payable Feb. 8 with the record/ex-dividend date of Dec. 29.
• Analyst view: The consensus rating is a "Moderate Buy" (eight Buy vs. two Sell) with a consensus price target of $51.00.

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 32.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,683,925 shares of the company's stock after selling 798,181 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.08% of British American Tobacco worth $89,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in British American Tobacco during the third quarter valued at approximately $29,000. Cary Street Partners Financial LLC purchased a new position in shares of British American Tobacco during the 2nd quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its stake in shares of British American Tobacco by 48.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company's stock valued at $34,000 after purchasing an additional 207 shares during the period. Westside Investment Management Inc. grew 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 during the period. Finally, City Holding Co. purchased a new position in British American Tobacco in the third quarter valued at $42,000. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Price Performance

BTI stock opened at $57.81 on Friday. British American Tobacco p.l.c. has a 12-month low of $37.96 and a 12-month high of $63.22. The business's 50-day moving average is $59.10 and its 200 day moving average is $56.38. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a dividend of $0.8349 per share. This represents a $3.34 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, December 29th.

Analyst Upgrades and Downgrades

BTI has been the topic of a number of analyst reports. Wall Street Zen upgraded British American Tobacco from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research report on Friday, November 28th. Morgan Stanley restated an "underweight" rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Weiss Ratings raised British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Finally, Kepler Capital Markets assumed coverage on British American Tobacco in a research report on Friday, December 12th. They set a "buy" rating on the stock. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

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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