E Fund Management Co. Ltd. Invests $1.17 Million in British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• E Fund Management Co. Ltd. has acquired 28,212 shares of British American Tobacco p.l.c. (NYSE:BTI), valued at approximately $1,167,000, indicating significant institutional interest in the company.
• Several other institutional investors have also increased their stakes, with Rosenberg Matthew Hamilton growing its holdings by 87.0% in Q1.
• British American Tobacco has received a mix of ratings from analysts, including an "overweight" from Barclays and a downgrade from Wall Street Zen to a "hold," reflecting varied market sentiment.

E Fund Management Co. Ltd. bought a new stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,212 shares of the company's stock, valued at approximately $1,167,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BTI. Lockheed Martin Investment Management Co. increased its position in British American Tobacco by 27.7% during the first quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company's stock worth $5,833,000 after buying an additional 30,600 shares during the last quarter. BNP Paribas Financial Markets increased its position in British American Tobacco by 21.8% during the fourth quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock worth $2,979,000 after buying an additional 14,655 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new position in British American Tobacco during the first quarter worth approximately $375,000. Atria Wealth Solutions Inc. increased its position in British American Tobacco by 28.8% during the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock worth $1,074,000 after buying an additional 5,745 shares during the last quarter. Finally, Todd Asset Management LLC increased its position in British American Tobacco by 26.9% during the first quarter. Todd Asset Management LLC now owns 741,893 shares of the company's stock worth $30,692,000 after buying an additional 157,251 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BTI shares. Jefferies Financial Group started coverage on British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Barclays restated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley restated an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a report on Friday. Finally, Bank of America started coverage on British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, British American Tobacco presently has an average rating of "Moderate Buy" and an average price target of $40.00.

British American Tobacco Price Performance

Shares of BTI stock traded down $0.28 during trading on Friday, hitting $57.14. The company had a trading volume of 4,005,394 shares, compared to its average volume of 5,269,625. 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 firm has a market capitalization of $117.69 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.38. The stock's 50-day moving average price is $51.36 and its 200 day moving average price is $45.05. British American Tobacco p.l.c. has a one year low of $34.17 and a one year high of $58.46.

British American Tobacco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were given a dividend of $0.7391 per share. This represents a yield of 599.0%. The ex-dividend date was Friday, June 27th. British American Tobacco's payout ratio is currently 64.68%.

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.