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

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its holdings in British American Tobacco by 0.7% during the first quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock worth $1,401,000 after acquiring an additional 244 shares during the period. Applied Capital LLC FL lifted its holdings in British American Tobacco by 1.1% during the first quarter. Applied Capital LLC FL now owns 23,284 shares of the company's stock worth $963,000 after acquiring an additional 257 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in British American Tobacco by 1.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock worth $691,000 after acquiring an additional 258 shares during the period. Keystone Financial Group lifted its holdings in British American Tobacco by 1.5% during the fourth quarter. Keystone Financial Group now owns 17,695 shares of the company's stock worth $643,000 after acquiring an additional 267 shares during the period. Finally, Financial Management Professionals Inc. lifted its holdings in British American Tobacco by 78.5% during 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 during the period. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of NYSE:BTI traded down $0.32 during midday trading on Friday, reaching $57.11. 2,502,841 shares of the company traded hands, compared to its average volume of 5,762,624. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 12 month low of $34.17 and a 12 month high of $58.46. The firm has a market capitalization of $117.62 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 2.24 and a beta of 0.38. The firm's fifty day moving average price is $51.17 and its two-hundred day moving average price is $44.89.

British American Tobacco Cuts Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on BTI shares. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Jefferies Financial Group started coverage on British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Barclays restated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Bank of America started coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. Finally, Morgan Stanley restated an "underweight" rating and issued a $40.00 target price on shares of British American Tobacco in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, British American Tobacco has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

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.