British American Tobacco p.l.c. $BTI Stock Holdings Lowered by Empyrean Capital Partners LP

Key Points

• Empyrean Capital Partners cut its BTI stake by 12.5% in the first quarter, selling 275,000 shares and retaining 1.925 million shares valued at approximately $112.6 million.
• Other major institutional investors generally increased their positions, while hedge funds and institutions collectively own 16.16% of British American Tobacco’s stock.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $51.00, although BTI recently opened at $60.76 and was down 0.3%.

Empyrean Capital Partners LP reduced its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 12.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,925,000 shares of the company's stock after selling 275,000 shares during the quarter. British American Tobacco makes up about 3.7% of Empyrean Capital Partners LP's holdings, making the stock its 2nd biggest holding. Empyrean Capital Partners LP owned about 0.09% of British American Tobacco worth $112,555,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its position in shares of British American Tobacco by 0.5% in the fourth quarter. Capital International Investors now owns 64,389,481 shares of the company's stock valued at $3,645,500,000 after acquiring an additional 332,062 shares during the period. Capital Research Global Investors grew its stake in shares of British American Tobacco by 1.2% in the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company's stock worth $1,264,512,000 after purchasing an additional 264,511 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings 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 purchasing an additional 2,482,737 shares during the period. Capital World Investors lifted its holdings 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 worth $538,935,000 after buying an additional 47,858 shares during the period. Finally, Bank of America Corp DE grew its position in shares of British American Tobacco by 29.5% in the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company's stock worth $368,099,000 after buying an additional 1,578,860 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BTI. Citigroup restated a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. BTIG Research assumed coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a "buy" rating for the company. Weiss Ratings raised shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.00.

British American Tobacco Stock Down 0.3%

NYSE BTI opened at $60.76 on Tuesday. The stock's 50 day moving average is $61.48 and its 200 day moving average is $60.06. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

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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