First Trust Advisors LP Sells 23,634 Shares of British American Tobacco p.l.c. $BTI

Key Points

• First Trust Advisors LP reduced its British American Tobacco stake by 2.9%, selling 23,634 shares during the first quarter and retaining 783,165 shares valued at approximately $45.8 million.
• BTI shares opened at $60.89, within a 52-week range of $49.88 to $67.30, while institutional investors and hedge funds collectively owned 16.16% of the stock.
• Analyst sentiment remains generally positive, with seven Buy ratings and one Sell rating; MarketBeat reports a consensus “Moderate Buy” rating, though the average price target is $51.00.

First Trust Advisors LP lessened its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 783,165 shares of the company's stock after selling 23,634 shares during the period. First Trust Advisors LP's holdings in British American Tobacco were worth $45,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BTI. First Command Advisory Services Inc. lifted its position in British American Tobacco by 1,386.7% during the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock worth $25,000 after buying an additional 416 shares in the last quarter. Glen Eagle Advisors LLC acquired a new stake in British American Tobacco in the 4th quarter valued at about $26,000. Cary Street Partners Financial LLC bought a new position in shares of British American Tobacco in the second quarter worth about $30,000. SHP Wealth Management acquired a new position in shares of British American Tobacco during the fourth quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of British American Tobacco by 141.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 591 shares of the company's stock worth $36,000 after purchasing an additional 346 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Stock Down 0.1%

Shares of NYSE BTI opened at $60.89 on Monday. British American Tobacco p.l.c. has a fifty-two week low of $49.88 and a fifty-two week high of $67.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The company's 50 day simple moving average is $61.60 and its 200 day simple moving average is $60.01.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BTI. Morgan Stanley restated an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Weiss Ratings raised British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. BTIG Research began coverage on British American Tobacco in a report on Tuesday, July 21st. They issued a "buy" rating on the stock. Finally, Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research report on Thursday, May 14th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.00.

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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