Glenmede Trust Co. NA Grows Stock Position in British American Tobacco p.l.c. $BTI

Key Points

• Glenmede Trust Co. NA increased its British American Tobacco stake by 207.3% in the first quarter, ending with 27,363 shares valued at approximately $1.6 million.
• Other institutional investors also added to or initiated positions in BTI, with hedge funds and institutions collectively owning 16.16% of the company.
• Analyst sentiment is largely positive, with seven Buy ratings and one Sell rating, resulting in a “Moderate Buy” consensus; however, the average price target of $51.00 is below the reported share price of $59.35.

Glenmede Trust Co. NA raised its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 207.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,363 shares of the company's stock after buying an additional 18,460 shares during the quarter. Glenmede Trust Co. NA's holdings in British American Tobacco were worth $1,600,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. lifted its holdings in British American Tobacco by 1,386.7% during the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock valued at $25,000 after purchasing an additional 416 shares during the last quarter. Glen Eagle Advisors LLC purchased a new position in British American Tobacco in the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its holdings in British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company's stock valued at $36,000 after acquiring an additional 346 shares during the period. SHP Wealth Management bought a new position in shares of British American Tobacco in the fourth quarter worth $35,000. Finally, Cary Street Partners Financial LLC purchased a new position in British American Tobacco during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of NYSE:BTI opened at $59.35 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.50 and a debt-to-equity ratio of 0.64. The company's fifty day moving average is $60.86 and its 200 day moving average is $60.31. British American Tobacco p.l.c. has a 52 week low of $49.88 and a 52 week high of $67.30.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BTI. Morgan Stanley reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. Citigroup reaffirmed a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Weiss Ratings upgraded British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Wall Street Zen raised British American Tobacco from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, BTIG Research initiated coverage on British American Tobacco in a report on Tuesday, July 21st. They set a "buy" rating for the company. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, British American Tobacco presently has an average rating of "Moderate Buy" and a consensus 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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