Fulton Bank N.A. Makes New $2.21 Million Investment in British American Tobacco p.l.c. $BTI

Key Points

• Fulton Bank N.A. purchased 46,723 shares of British American Tobacco p.l.c. for approximately $2.21 million, marking their new position in the company.
• Several other hedge funds have also increased their stakes, with notable increases including a 292.7% stake increase by Mather Group LLC.
• Analysts have mixed ratings for British American Tobacco, with Jefferies initiating a "buy" rating while Morgan Stanley maintains an "underweight" rating with a $40 price target.

Fulton Bank N.A. acquired a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 46,723 shares of the company's stock, valued at approximately $2,211,000.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of British American Tobacco by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after acquiring an additional 305 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of British American Tobacco by 87.0% during the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after acquiring an additional 280 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of British American Tobacco during the 4th quarter valued at about $26,000. Financial Management Professionals Inc. boosted its holdings in shares of British American Tobacco by 78.5% during the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after acquiring an additional 278 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of British American Tobacco by 292.7% during the 1st quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

BTI has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They set a "buy" rating on the stock. Morgan Stanley reissued an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a report on Friday, August 15th. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada downgraded shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a report on Tuesday, September 2nd. Finally, Barclays reissued an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $51.00.

British American Tobacco Trading Down 1.2%

NYSE BTI traded down $0.68 on Monday, hitting $54.03. 2,517,220 shares of the stock were exchanged, compared to its average volume of 5,556,151. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. The stock has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $48.04. The firm has a market capitalization of $111.16 billion, a P/E ratio of 11.09, a P/E/G ratio of 3.76 and a beta of 0.40. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29.

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.