Fox Run Management L.L.C. Acquires New Position in British American Tobacco p.l.c. $BTI

Key Points

• Fox Run Management invested approximately $865,000 in British American Tobacco p.l.c., acquiring 20,913 shares, as disclosed in their latest 13F filing.
• Several hedge funds have also increased their stakes in British American Tobacco, with notable increases including a 59.8% raise by GQG Partners in the first quarter.
• Analysts have varying opinions on BTI, with ratings ranging from "buy" to "underweight," and a consensus target price of $40.00 per share.

Fox Run Management L.L.C. purchased a new position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,913 shares of the company's stock, valued at approximately $865,000.

Several other hedge funds also recently modified their holdings of BTI. Park Avenue Securities LLC grew its position in British American Tobacco by 0.7% in the 1st quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock valued at $1,401,000 after purchasing an additional 244 shares during the period. Applied Capital LLC FL grew its position in British American Tobacco by 1.1% in the 1st quarter. Applied Capital LLC FL now owns 23,284 shares of the company's stock valued at $963,000 after purchasing an additional 257 shares during the period. Elevation Point Wealth Partners LLC grew its position in British American Tobacco by 1.6% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock valued at $691,000 after purchasing an additional 258 shares during the period. Financial Management Professionals Inc. grew its position in British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after purchasing an additional 278 shares during the period. Finally, Rosenberg Matthew Hamilton grew its position in British American Tobacco by 87.0% in the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after purchasing an additional 280 shares during the period. Institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of NYSE:BTI traded up $1.5640 during midday trading on Wednesday, reaching $59.0340. The company had a trading volume of 3,247,099 shares, compared to its average volume of 5,725,803. The company's 50 day moving average price is $51.75 and its 200 day moving average price is $45.30. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The stock has a market cap of $121.60 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.32 and a beta of 0.38. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.15.

British American Tobacco Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, June 30th were issued a $0.7391 dividend. This represents a dividend yield of 599.0%. The ex-dividend date of this dividend was Friday, June 27th. British American Tobacco's payout ratio is 64.68%.

Analyst Ratings Changes

Several analysts recently issued reports on BTI shares. Jefferies Financial Group started coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America started coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating on the stock. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, British American Tobacco has a consensus rating of "Moderate Buy" and an average target price of $40.00.

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.