Gateway Investment Advisers LLC Cuts Holdings in British American Tobacco p.l.c. $BTI

Key Points

• Gateway Investment Advisers LLC reduced its holdings in British American Tobacco by 7.0%, selling 16,191 shares in the second quarter, leaving them with 213,577 shares valued at approximately $10.1 million.
• Analysts maintain a mixed outlook on British American Tobacco, with ratings ranging from "Buy" from Jefferies and Argus to "Underperform" from Royal Bank of Canada and Morgan Stanley, leading to a consensus rating of "Hold" and an average target price of $51.00.
• The stock is currently trading at $56.01, having a 12-month low of $34.17 and high of $59.29, with a market cap of $115.24 billion.

Gateway Investment Advisers LLC trimmed its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,577 shares of the company's stock after selling 16,191 shares during the quarter. Gateway Investment Advisers LLC's holdings in British American Tobacco were worth $10,109,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BTI. Rosenberg Matthew Hamilton boosted its stake in British American Tobacco by 87.0% during the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock worth $25,000 after buying an additional 280 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in British American Tobacco by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock worth $25,000 after buying an additional 305 shares during the last quarter. Ameriflex Group Inc. acquired a new position in British American Tobacco during the fourth quarter worth $26,000. Financial Management Professionals Inc. boosted its stake in British American Tobacco by 78.5% during the first 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. Finally, Mather Group LLC. boosted its stake in British American Tobacco by 292.7% during the first quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $27,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Stock Down 2.0%

NYSE BTI traded down $1.11 during trading hours on Thursday, hitting $54.92. 2,908,178 shares of the company were exchanged, compared to its average volume of 4,143,586. The company has a 50 day moving average of $55.34 and a two-hundred day moving average of $47.82. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29. The firm has a market cap of $113.00 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 3.85 and a beta of 0.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Argus raised British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price target on the stock in a research note on Monday, September 8th. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Jefferies Financial Group began coverage on British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $51.00.

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.