Equitable Trust Co. Takes Position in British American Tobacco p.l.c. $BTI

Key Points

• Equitable Trust Co. bought a new stake in British American Tobacco during the first quarter, purchasing 37,323 shares valued at about $2.18 million.
• Other institutional investors also increased their holdings, and 16.16% of British American Tobacco’s stock is now owned by institutions.
• Analysts remain generally positive on BTI, with a Moderate Buy consensus and a $51.00 average price target, though one firm recently downgraded the stock to hold.

Equitable Trust Co. purchased a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 37,323 shares of the company's stock, valued at approximately $2,182,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC grew its stake in British American Tobacco by 35.2% in the first 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 period. Sivia Capital Partners LLC boosted its holdings in shares of British American Tobacco by 42.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company's stock valued at $400,000 after buying an additional 2,521 shares in the last quarter. Rhumbline Advisers grew its position in shares of British American Tobacco by 10.2% in the 2nd quarter. Rhumbline Advisers now owns 6,017 shares of the company's stock worth $285,000 after buying an additional 559 shares during the period. Baird Financial Group Inc. grew its position in shares of British American Tobacco by 58.6% in the 2nd 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 period. Finally, Brown Advisory Inc. increased its stake in shares of British American Tobacco by 5.4% in the 2nd quarter. Brown Advisory Inc. now owns 15,967 shares of the company's stock worth $756,000 after acquiring an additional 816 shares in the last quarter. 16.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BTI shares. Wall Street Zen lowered shares of 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 research note on Wednesday, June 3rd. Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a report on Monday, June 8th. Finally, Citigroup reissued a "buy" rating on shares of British American Tobacco in a research report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, British American Tobacco has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

British American Tobacco Stock Performance

NYSE:BTI opened at $60.01 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. The company's 50 day moving average price is $61.72 and its 200-day moving average price is $59.70. British American Tobacco p.l.c. has a 52 week low of $49.88 and a 52 week high of $67.30.

British American Tobacco Profile

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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