D.A. Davidson & CO. Buys 21,303 Shares of British American Tobacco p.l.c. $BTI

Key Points

• D.A. Davidson & Co. boosted its stake in British American Tobacco by 40.3% in the first quarter, buying 21,303 additional shares and bringing its total position to 74,155 shares worth about $4.34 million.
• Several other institutional investors also increased their BTI holdings, and overall 16.16% of the stock is now owned by hedge funds and other institutions.
• Wall Street sentiment is mixed but generally positive: BTI has a Moderate Buy consensus rating with an average target price of $51.00, though the shares recently traded at $62.89, above that target.

D.A. Davidson & CO. increased its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 40.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,155 shares of the company's stock after buying an additional 21,303 shares during the period. D.A. Davidson & CO.'s holdings in British American Tobacco were worth $4,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BTI. AQR Capital Management LLC increased its stake in shares of British American Tobacco by 35.2% during the 1st quarter. AQR Capital Management LLC now owns 27,914 shares of the company's stock worth $1,155,000 after purchasing an additional 7,270 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in British American Tobacco by 42.5% during the second quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company's stock valued at $400,000 after purchasing an additional 2,521 shares during the period. Rhumbline Advisers increased its position in British American Tobacco by 10.2% in the second quarter. Rhumbline Advisers now owns 6,017 shares of the company's stock worth $285,000 after buying an additional 559 shares during the last quarter. Baird Financial Group Inc. increased its position in British American Tobacco by 58.6% in the second quarter. Baird Financial Group Inc. now owns 14,853 shares of the company's stock worth $703,000 after buying an additional 5,486 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of British American Tobacco by 5.4% in the second quarter. Brown Advisory Inc. now owns 15,967 shares of the company's stock valued at $756,000 after buying an additional 816 shares during the period. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BTI has been the subject of several research reports. Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Stock Performance

Shares of BTI stock opened at $62.89 on Friday. The company's fifty day simple moving average is $61.88 and its two-hundred day simple moving average is $59.82. British American Tobacco p.l.c. has a 1 year low of $49.88 and a 1 year high of $67.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

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