First Trust Advisors LP Lowers Stock Position in British American Tobacco p.l.c. $BTI

Key Points

• First Trust Advisors LP trimmed its stake in British American Tobacco by 7.2% in Q3, selling 65,867 shares and now owning 852,764 shares valued at about $45.27 million.
• British American Tobacco declared a quarterly dividend of $0.8349 (annualized $3.34), implying a yield of roughly 5.6%, payable Feb 8 with record/ex-dividend date Dec 29.
• Analyst sentiment is broadly positive—eight analysts rate BTI a Buy and two a Sell—producing an average rating of “Moderate Buy” and an average target price of $51.00.

First Trust Advisors LP trimmed its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 7.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 852,764 shares of the company's stock after selling 65,867 shares during the period. First Trust Advisors LP's holdings in British American Tobacco were worth $45,265,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in British American Tobacco in the 3rd quarter valued at approximately $29,000. Cary Street Partners Financial LLC acquired a new position in British American Tobacco during the second quarter worth $30,000. Salem Investment Counselors Inc. boosted its position in shares of British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company's stock worth $34,000 after buying an additional 207 shares during the period. Westside Investment Management Inc. grew its stake in shares of British American Tobacco by 100.0% in the third quarter. Westside Investment Management Inc. now owns 782 shares of the company's stock valued at $41,000 after buying an additional 391 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of British American Tobacco in the 3rd quarter valued at $42,000. 16.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BTI has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating on shares of British American Tobacco in a report on Friday, November 28th. Wall Street Zen raised shares of British American Tobacco from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of British American Tobacco in a research note on Friday, November 28th. Weiss Ratings raised shares of British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Finally, Kepler Capital Markets initiated coverage on shares of British American Tobacco in a report on Friday, December 12th. They set a "buy" rating on the stock. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Trading Down 0.5%

Shares of NYSE:BTI opened at $59.13 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. British American Tobacco p.l.c. has a twelve month low of $37.96 and a twelve month high of $63.22. The firm has a 50 day simple moving average of $59.23 and a 200-day simple moving average of $56.38.

British American Tobacco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a $0.8349 dividend. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.6%.

British American Tobacco Company 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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