Capricorn Fund Managers Ltd Acquires Shares of 145,000 British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Capricorn Fund Managers Ltd has acquired a new position in British American Tobacco, purchasing 145,000 shares valued at approximately $5,999,000, making it the fund's 12th largest holding.
• A significant increase in stakes from other institutional investors has been observed, including Golden State Wealth Management, which lifted its shareholding by 100% in the first quarter.
• British American Tobacco's shares are currently under a consensus rating of "Moderate Buy", with price targets averaging around $33.00, despite a mixture of buy and hold ratings from analysts.

Capricorn Fund Managers Ltd purchased a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 145,000 shares of the company's stock, valued at approximately $5,999,000. British American Tobacco makes up 3.2% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 12th largest position.

A number of other hedge funds have also recently made changes to their positions in BTI. Capital International Investors grew its position in British American Tobacco by 17.1% in the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock worth $1,411,179,000 after acquiring an additional 5,673,619 shares in the last quarter. Capital Research Global Investors grew its position in British American Tobacco by 0.3% in the fourth quarter. Capital Research Global Investors now owns 15,594,361 shares of the company's stock worth $566,381,000 after acquiring an additional 47,439 shares in the last quarter. FMR LLC grew its position in British American Tobacco by 44.0% in the fourth quarter. FMR LLC now owns 10,232,402 shares of the company's stock worth $371,641,000 after acquiring an additional 3,127,046 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in British American Tobacco by 24.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company's stock worth $221,343,000 after acquiring an additional 1,196,020 shares in the last quarter. Finally, Bridgewater Associates LP grew its position in British American Tobacco by 261.7% in the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock worth $97,388,000 after acquiring an additional 1,940,035 shares in the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BTI. Bank of America began coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They set a "buy" rating for the company. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group began coverage on shares of British American Tobacco in a research note on Wednesday, July 9th. 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

British American Tobacco Price Performance

Shares of BTI traded up $0.47 during trading hours on Wednesday, reaching $53.24. 7,780,181 shares of the stock traded hands, compared to its average volume of 5,790,341. The company has a market cap of $109.82 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 4.88 and a beta of 0.33. British American Tobacco p.l.c. has a 52-week low of $34.12 and a 52-week high of $53.48. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 0.65. The company's 50-day moving average price is $48.77 and its two-hundred day moving average price is $43.39.

British American Tobacco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th will be issued a $0.7391 dividend. The ex-dividend date is Friday, June 27th. This represents a dividend yield of 5.99%. British American Tobacco's dividend payout ratio (DPR) is presently 60.78%.

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.