British American Tobacco p.l.c. (NYSE:BTI) Shares Bought by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its stake in British American Tobacco by 33.0%, owning 51,411 shares valued at approximately $2.1 million after purchasing an additional 12,758 shares in the first quarter.
• Several hedge funds have also boosted their positions in British American Tobacco, with FMR LLC raising its stake by 44.0% and Bridgewater Associates LP increasing its stake by 261.7% in the last quarter.
• British American Tobacco recently declared a dividend of $0.7391 per share, resulting in a significant yield of 599.0%, despite a report suggesting a cautious outlook from analysts.

Scotia Capital Inc. lifted its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 33.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 51,411 shares of the company's stock after purchasing an additional 12,758 shares during the quarter. Scotia Capital Inc.'s holdings in British American Tobacco were worth $2,127,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton lifted its stake in shares of British American Tobacco by 87.0% during the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock worth $25,000 after purchasing an additional 280 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of British American Tobacco by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock worth $25,000 after purchasing an additional 305 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of British American Tobacco during the fourth quarter worth about $26,000. Financial Management Professionals Inc. lifted its stake in shares of British American Tobacco by 78.5% in the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock worth $26,000 after acquiring an additional 278 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in shares of British American Tobacco by 292.7% in the first quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $27,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on BTI. Jefferies Financial Group began coverage on British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Bank of America began coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. Barclays reiterated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Finally, Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

British American Tobacco Stock Up 1.0%

NYSE BTI traded up $0.56 on Friday, hitting $57.25. 4,444,324 shares of the stock traded hands, compared to its average volume of 5,929,268. The stock has a 50-day moving average of $50.26 and a 200 day moving average of $44.34. British American Tobacco p.l.c. has a twelve month low of $34.17 and a twelve month high of $57.29. The company has a market capitalization of $117.92 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 2.23 and a beta of 0.38. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68.

British American Tobacco Cuts Dividend

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

About British American Tobacco

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.