Todd Asset Management LLC Purchases 157,251 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Todd Asset Management LLC increased its stake in British American Tobacco (NYSE:BTI) by 26.9%, purchasing an additional 157,251 shares, bringing its total holdings to 741,893 shares worth approximately $30.7 million.
• Multiple institutional investors, such as Rosenberg Matthew Hamilton and Golden State Wealth Management LLC, significantly increased their positions in BTI, indicating growing institutional interest in the company.
• British American Tobacco recently announced a dividend yield of 599.0% and paid a dividend of $0.7391 per share, with a payout ratio of 64.68%.

Todd Asset Management LLC lifted its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 26.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,893 shares of the company's stock after acquiring an additional 157,251 shares during the quarter. Todd Asset Management LLC's holdings in British American Tobacco were worth $30,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital International Investors increased its position in British American Tobacco by 17.1% during the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock worth $1,411,179,000 after buying an additional 5,673,619 shares during the last quarter. Bridgewater Associates LP grew its position in shares of British American Tobacco by 261.7% in the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock valued at $97,388,000 after purchasing an additional 1,940,035 shares during the last quarter. Northern Trust Corp lifted its stake in shares of British American Tobacco by 33.6% in the fourth quarter. Northern Trust Corp now owns 2,438,016 shares of the company's stock valued at $88,549,000 after buying an additional 612,907 shares during the period. GAMMA Investing LLC lifted its stake in shares of British American Tobacco by 5,144.6% in the first quarter. GAMMA Investing LLC now owns 276,393 shares of the company's stock valued at $11,434,000 after buying an additional 271,123 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of British American Tobacco by 39.6% in the fourth quarter. Two Sigma Advisers LP now owns 877,000 shares of the company's stock valued at $31,853,000 after buying an additional 248,700 shares during the period. 16.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

British American Tobacco Trading Down 0.7%

BTI traded down $0.38 during trading on Tuesday, reaching $57.95. 3,965,479 shares of the company's stock were exchanged, compared to its average volume of 5,724,927. The company's fifty day moving average price is $50.75 and its 200-day moving average price is $44.68. The firm has a market capitalization of $119.36 billion, a PE ratio of 11.90, a P/E/G ratio of 2.29 and a beta of 0.38. British American Tobacco p.l.c. has a fifty-two week low of $34.17 and a fifty-two week high of $58.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87.

British American Tobacco Cuts Dividend

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

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.