Causeway Capital Management LLC Cuts Holdings in British American Tobacco p.l.c. $BTI

Key Points

• Causeway Capital Management LLC reduced its holdings in British American Tobacco by 3.3%, bringing its total shares to 608,927, worth approximately $25.2 million.
• Several hedge funds have increased their stakes in British American Tobacco, with some, like Mather Group LLC, boosting their position by up to 292.7% in the same quarter.
• British American Tobacco has a dividend yield of 599.0%, with a payout ratio of 64.68%, despite recent stock performance fluctuations.

Causeway Capital Management LLC lowered its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 608,927 shares of the company's stock after selling 20,985 shares during the quarter. Causeway Capital Management LLC's holdings in British American Tobacco were worth $25,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of BTI. Rosenberg Matthew Hamilton increased its position in shares of British American Tobacco by 87.0% during the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after purchasing an additional 280 shares during the last quarter. Golden State Wealth Management LLC raised its position in British American Tobacco by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock worth $25,000 after acquiring an additional 305 shares during the period. Financial Management Professionals Inc. grew its position in shares of British American Tobacco by 78.5% during the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after acquiring an additional 278 shares during the period. Mather Group LLC. increased its stake in shares of British American Tobacco by 292.7% during the 1st quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in British American Tobacco in the fourth quarter valued at approximately $26,000. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Stock Performance

British American Tobacco stock opened at $57.78 on Tuesday. British American Tobacco p.l.c. has a fifty-two week low of $34.17 and a fifty-two week high of $59.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. The stock has a market cap of $119.01 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 2.35 and a beta of 0.38. The firm's fifty day moving average price is $52.54 and its 200-day moving average price is $45.83.

British American Tobacco Cuts Dividend

The company also recently declared 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 of this dividend was Friday, June 27th. This represents a yield of 599.0%. British American Tobacco's payout ratio is 64.68%.

Analyst Ratings Changes

Several research analysts have recently weighed in on BTI shares. Bank of America started coverage on British American Tobacco in a research note on Wednesday, April 30th. They set a "buy" rating for the company. Jefferies Financial Group started coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.00.

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.

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