Federated Hermes Inc. Increases Stock Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Federated Hermes Inc. increased its holdings in British American Tobacco p.l.c. by 5.6% during the first quarter, now owning 160,412 shares valued at approximately $6.6 million.
• A number of institutional investors have also adjusted their stakes in British American Tobacco, with significant increases from firms like Financial Management Professionals Inc., which raised its position by 78.5%.
• Stock analysts have mixed views on British American Tobacco, with ratings ranging from "sell" to "buy," leading to a consensus rating of "Moderate Buy" and an average target price of $33.00.

Federated Hermes Inc. raised its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,412 shares of the company's stock after buying an additional 8,541 shares during the period. Federated Hermes Inc.'s holdings in British American Tobacco were worth $6,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Capital International Investors lifted its position in shares of British American Tobacco by 17.1% during the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock valued at $1,411,179,000 after purchasing an additional 5,673,619 shares in the last quarter. Capital Research Global Investors increased its holdings in British American Tobacco by 0.3% during the fourth quarter. Capital Research Global Investors now owns 15,594,361 shares of the company's stock worth $566,381,000 after buying an additional 47,439 shares during the last quarter. FMR LLC increased its holdings in British American Tobacco by 44.0% during the fourth quarter. FMR LLC now owns 10,232,402 shares of the company's stock worth $371,641,000 after buying an additional 3,127,046 shares during the last quarter. Bridgewater Associates LP increased its holdings in British American Tobacco by 261.7% during the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock worth $97,388,000 after buying an additional 1,940,035 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of British American Tobacco by 33.6% in the fourth quarter. Northern Trust Corp now owns 2,438,016 shares of the company's stock worth $88,549,000 after purchasing an additional 612,907 shares in the last quarter. 16.16% of the stock is owned by institutional investors.

British American Tobacco Trading Up 0.9%

Shares of BTI traded up $0.52 during trading hours on Wednesday, reaching $56.36. 4,063,007 shares of the company traded hands, compared to its average volume of 5,828,510. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $56.58. The stock's fifty day moving average price is $49.55 and its 200 day moving average price is $43.97. The firm has a market cap of $116.27 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.18 and a beta of 0.38. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68.

British American Tobacco Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America assumed coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They set a "buy" rating for the company. Barclays restated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Jefferies Financial Group began coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

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.