British American Tobacco p.l.c. $BTI Shares Sold by Cove Street Capital LLC

Key Points

• Cove Street Capital LLC reduced its stake in British American Tobacco p.l.c. by 51.9%, selling 15,000 shares and leaving them with 13,921 shares valued at approximately $576,000.
• Institutional investors currently own 16.16% of British American Tobacco, with notable movements from several hedge funds during the first quarter.
• Analysts have mixed opinions on the stock, with Morgan Stanley maintaining an "underweight" rating and a price target of $40.00, while four analysts rate it as a "Buy".

Cove Street Capital LLC lessened its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 51.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,921 shares of the company's stock after selling 15,000 shares during the quarter. Cove Street Capital LLC's holdings in British American Tobacco were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Orbis Allan Gray Ltd increased its stake in British American Tobacco by 20.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company's stock worth $497,318,000 after purchasing an additional 2,040,011 shares in the last quarter. GQG Partners LLC increased its stake in British American Tobacco by 59.8% in the first quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock valued at $397,089,000 after acquiring an additional 3,590,916 shares during the last quarter. Newport Trust Company LLC increased its holdings in British American Tobacco by 1.1% in the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company's stock worth $114,779,000 after purchasing an additional 31,205 shares in the last quarter. Northern Trust Corp lifted its holdings in British American Tobacco by 1.5% in the first quarter. Northern Trust Corp now owns 2,473,942 shares of the company's stock valued at $102,347,000 after buying an additional 35,926 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of British American Tobacco by 3.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock worth $59,866,000 after buying an additional 42,531 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Stock Performance

British American Tobacco stock traded up $0.21 during trading hours on Monday, reaching $56.23. 4,430,334 shares of the stock were exchanged, compared to its average volume of 5,678,933. The firm's 50 day moving average is $53.93 and its 200 day moving average is $46.85. 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 $115.81 billion, a P/E ratio of 11.55, a P/E/G ratio of 3.85 and a beta of 0.40. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BTI shares. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Argus raised British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 target price for the company in a research report on Monday. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price target on shares of British American Tobacco in a research report on Friday, August 15th. Finally, Barclays reiterated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.00.

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.