British American Tobacco p.l.c. (NYSE:BTI) Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA reduced its holdings in British American Tobacco p.l.c. by 47.0%, making it the company's third-largest position with approximately 3.5% of their investment portfolio.
• Several hedge funds increased their stakes in British American Tobacco during the fourth quarter, with Capital International Investors acquiring an additional 5.67 million shares, raising their total to nearly $1.41 billion.
• British American Tobacco's dividend yield is significantly high at 599.0%, with a recent declaration of a $0.7391 dividend to be paid on August 6th to shareholders of record on June 30th.

ABC Arbitrage SA lessened its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 47.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 459,137 shares of the company's stock after selling 407,592 shares during the period. British American Tobacco accounts for approximately 3.5% of ABC Arbitrage SA's holdings, making the stock its 3rd biggest position. ABC Arbitrage SA's holdings in British American Tobacco were worth $18,994,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Atria Wealth Solutions Inc. grew its position in shares of British American Tobacco by 28.8% during the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock worth $1,074,000 after acquiring an additional 5,745 shares during the last quarter. Plan Group Financial LLC acquired a new position in British American Tobacco during the 1st quarter valued at about $1,510,000. Allianz SE bought a new position in British American Tobacco in the 1st quarter worth about $194,000. Scotia Capital Inc. increased its stake in shares of British American Tobacco by 33.0% in the first quarter. Scotia Capital Inc. now owns 51,411 shares of the company's stock valued at $2,127,000 after purchasing an additional 12,758 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of British American Tobacco by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 45,662 shares of the company's stock valued at $1,889,000 after buying an additional 3,074 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Price Performance

NYSE:BTI traded up $0.29 during midday trading on Thursday, hitting $56.69. 4,526,291 shares of the stock were exchanged, compared to its average volume of 6,215,467. The business has a 50-day moving average price of $50.01 and a two-hundred day moving average price of $44.20. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $116.94 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.22 and a beta of 0.38. British American Tobacco p.l.c. has a one year low of $34.17 and a one year high of $56.71.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were given a $0.7391 dividend. The ex-dividend date was Friday, June 27th. This represents a yield of 599.0%. British American Tobacco's payout ratio is 64.68%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BTI. Barclays restated an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. Jefferies Financial Group began coverage on British American Tobacco in a report on Wednesday, July 9th. They set a "buy" rating on the stock. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Bank of America initiated coverage on shares of British American Tobacco in a research report on Wednesday, April 30th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.00.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.