Gateway Investment Advisers LLC Sells 82,935 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Gateway Investment Advisers LLC lessened its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 26.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 229,768 shares of the company's stock after selling 82,935 shares during the period. Gateway Investment Advisers LLC's holdings in British American Tobacco were worth $9,506,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its holdings in shares of British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock worth $26,000 after buying an additional 278 shares during the last quarter. Ameriflex Group Inc. purchased a new position in British American Tobacco in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. grew its position in shares of British American Tobacco by 294.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 703 shares of the company's stock valued at $26,000 after acquiring an additional 525 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of British American Tobacco during the 4th quarter worth approximately $27,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of British American Tobacco by 334.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,099 shares of the company's stock worth $40,000 after purchasing an additional 846 shares during the period. 16.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BTI has been the topic of several recent research reports. Bank of America assumed coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

British American Tobacco Stock Performance

Shares of NYSE:BTI traded up $1.24 during midday trading on Wednesday, reaching $48.74. 10,194,779 shares of the company traded hands, compared to its average volume of 5,104,880. The firm's fifty day moving average price is $43.20 and its two-hundred day moving average price is $40.23. The firm has a market capitalization of $100.75 billion, a price-to-earnings ratio of 10.01 and a beta of 0.31. The company has a quick ratio of 0.58, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. British American Tobacco p.l.c. has a 12 month low of $30.29 and a 12 month high of $48.78.

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.