Dupree Financial Group LLC Sells 78,491 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Dupree Financial Group LLC reduced its holdings in British American Tobacco p.l.c. by 19.9%, selling 78,491 shares during the second quarter, which leaves them with 314,969 shares accounting for 5.9% of their portfolio.
• Several hedge funds have adjusted their positions in British American Tobacco, with GQG Partners LLC increasing its shares by 59.8% and Truist Financial Corp growing its holdings by 128.7% in the second quarter.
• Analysts have varied opinions on the stock, with Argus upgrading it to a "buy" with a price target of $62, while Morgan Stanley maintains an "underweight" rating with a lower target of $40.

Dupree Financial Group LLC trimmed its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,969 shares of the company's stock after selling 78,491 shares during the quarter. British American Tobacco accounts for approximately 5.9% of Dupree Financial Group LLC's portfolio, making the stock its 3rd largest holding. Dupree Financial Group LLC's holdings in British American Tobacco were worth $14,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC raised its position in shares of British American Tobacco by 59.8% during the 1st 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 in the last quarter. Orbis Allan Gray Ltd raised 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 valued at $497,318,000 after purchasing an additional 2,040,011 shares during the period. WT Asset Management Ltd purchased a new stake in British American Tobacco in the 2nd quarter worth approximately $37,850,000. Kingstone Capital Partners Texas LLC bought a new stake in British American Tobacco in the second quarter worth approximately $29,568,000. Finally, Truist Financial Corp grew its holdings in British American Tobacco by 128.7% during the second quarter. Truist Financial Corp now owns 403,170 shares of the company's stock valued at $19,082,000 after purchasing an additional 226,907 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BTI has been the topic of several analyst reports. Argus upgraded British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective on the stock in a research note on Monday, September 8th. Morgan Stanley reiterated an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a report on Friday, August 15th. Royal Bank Of Canada downgraded British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, September 2nd. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Finally, Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.00.

British American Tobacco Stock Down 0.9%

Shares of NYSE:BTI opened at $51.16 on Tuesday. British American Tobacco p.l.c. has a one year low of $34.17 and a one year high of $59.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The company has a market cap of $105.13 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.64 and a beta of 0.42. The firm has a fifty day moving average price of $54.72 and a two-hundred day moving average price of $49.64.

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.

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