British American Tobacco p.l.c. $BTI Stock Acquired by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its British American Tobacco stake by 64.1% in the third quarter, acquiring 45,677 additional shares and bringing its holdings to 116,920 shares valued at approximately $6.36 million.
• Other institutional investors also added to their positions, while institutional ownership of British American Tobacco stands at 16.16%.
• BTI shares opened at $58.55, below the analyst consensus price target of $68.10. Analysts maintain a “Moderate Buy” consensus, despite the company missing recent earnings and revenue estimates.

CWA Asset Management Group LLC boosted its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 64.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,920 shares of the company's stock after purchasing an additional 45,677 shares during the quarter. CWA Asset Management Group LLC's holdings in British American Tobacco were worth $6,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. boosted its stake in British American Tobacco by 217.2% during the second quarter. TD Waterhouse Canada Inc. now owns 94,068 shares of the company's stock valued at $5,700,000 after buying an additional 64,408 shares during the period. QRG Capital Management Inc. grew its position in British American Tobacco by 11.2% during the second quarter. QRG Capital Management Inc. now owns 224,848 shares of the company's stock worth $13,887,000 after buying an additional 22,587 shares in the last quarter. Bessemer Group Inc. grew its position in British American Tobacco by 1,039.9% during the first quarter. Bessemer Group Inc. now owns 27,130 shares of the company's stock worth $1,586,000 after buying an additional 24,750 shares in the last quarter. Quantinno Capital Management LP increased its stake in British American Tobacco by 11.9% in the 1st quarter. Quantinno Capital Management LP now owns 398,397 shares of the company's stock worth $23,294,000 after acquiring an additional 42,336 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in British American Tobacco in the 3rd quarter worth about $1,134,000. Institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Down 2.4%

NYSE BTI opened at $58.55 on Tuesday. British American Tobacco p.l.c. has a 52-week low of $49.88 and a 52-week high of $67.30. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $55.83 and a 200-day moving average of $58.87.

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 (EPS) 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 the consensus estimate of $16.42 billion. On average, research analysts forecast that British American Tobacco p.l.c. will post 4.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on BTI shares. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings reissued a "buy (b)" rating on shares of British American Tobacco in a report on Monday, August 31st. Jefferies Financial Group reissued a "buy" rating on shares of British American Tobacco in a report on Wednesday, September 30th. Royal Bank Of Canada restated a "sell" rating on shares of British American Tobacco in a research report on Friday, September 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of British American Tobacco in a research note on Thursday, October 1st. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $68.10.

British American Tobacco Profile

British American Tobacco p.l.c. NYSE: BTI is a multinational tobacco and nicotine products company headquartered in London, United Kingdom. The company develops, manufactures and markets combustible tobacco products, including cigarettes and other traditional tobacco products, as well as a growing portfolio of potentially reduced-risk nicotine products.

Its brands include Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Newport, along with non-combustible products such as Vuse vapor products, glo heated tobacco products and Velo modern oral nicotine pouches.

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