Fifth Third Bancorp Has $996,000 Position in British American Tobacco p.l.c. $BTI

Key Points

• Fifth Third Bancorp increased its stake in British American Tobacco by 47.6% during Q2, now holding 21,038 shares valued at $996,000.
• Several other hedge funds also made significant changes to their investments in British American Tobacco, indicating a strong interest among institutional investors.
• Analysts have mixed ratings on British American Tobacco, with some upgrades and downgrades, leading to an average target price of $51.00 for the stock.

Fifth Third Bancorp grew its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 47.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,038 shares of the company's stock after purchasing an additional 6,785 shares during the period. Fifth Third Bancorp's holdings in British American Tobacco were worth $996,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Golden State Equity Partners bought a new stake in British American Tobacco during the second quarter worth about $245,000. GAMMA Investing LLC grew its position in British American Tobacco by 34.3% during the 2nd quarter. GAMMA Investing LLC now owns 8,974 shares of the company's stock worth $425,000 after acquiring an additional 2,293 shares during the last quarter. Park Avenue Securities LLC increased its holdings in British American Tobacco by 66.9% during the 2nd quarter. Park Avenue Securities LLC now owns 56,520 shares of the company's stock valued at $2,675,000 after purchasing an additional 22,654 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in British American Tobacco by 1.7% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 27,197 shares of the company's stock valued at $1,287,000 after purchasing an additional 457 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in British American Tobacco by 42.1% in the second quarter. Farther Finance Advisors LLC now owns 5,822 shares of the company's stock worth $276,000 after purchasing an additional 1,724 shares in the last quarter. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Stock Up 1.2%

NYSE:BTI opened at $52.97 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $59.29. The stock's fifty day simple moving average is $55.55 and its 200-day simple moving average is $48.46. The firm has a market capitalization of $108.99 billion, a P/E ratio of 10.88, a P/E/G ratio of 3.64 and a beta of 0.40.

Analyst Upgrades and Downgrades

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

About British American Tobacco

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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