GQG Partners LLC Grows Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• GQG Partners LLC increased its holdings in British American Tobacco by 59.8%, resulting in ownership of approximately 9.6 million shares valued at $397 million as of the most recent SEC filing.
• Multiple hedge funds, including Townsquare Capital and Bridgewater Associates, have also increased their stakes in British American Tobacco, highlighting growing institutional interest.
• The company recently announced a dividend yield of 599.0%, with a payout ratio of 60.57%, despite fluctuations in stock performance and analyst ratings.

GQG Partners LLC increased its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,598,465 shares of the company's stock after purchasing an additional 3,590,916 shares during the quarter. GQG Partners LLC owned approximately 0.46% of British American Tobacco worth $397,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BTI. Townsquare Capital LLC boosted its stake in British American Tobacco by 61.7% in the fourth quarter. Townsquare Capital LLC now owns 32,314 shares of the company's stock valued at $1,174,000 after acquiring an additional 12,334 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in British American Tobacco in the fourth quarter valued at about $465,000. Mariner LLC boosted its stake in British American Tobacco by 55.5% in the fourth quarter. Mariner LLC now owns 147,944 shares of the company's stock valued at $5,373,000 after acquiring an additional 52,818 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in British American Tobacco by 6.1% in the fourth quarter. Belpointe Asset Management LLC now owns 40,533 shares of the company's stock valued at $1,523,000 after acquiring an additional 2,323 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in British American Tobacco by 261.7% in the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock valued at $97,388,000 after acquiring an additional 1,940,035 shares during the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Stock Performance

NYSE BTI opened at $57.95 on Wednesday. The company's 50 day moving average is $50.75 and its 200-day moving average is $44.68. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $58.46. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market cap of $119.36 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 2.29 and a beta of 0.38.

British American Tobacco Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, June 30th were issued a dividend of $0.7391 per share. This represents a yield of 599.0%. The ex-dividend date of this dividend was Friday, June 27th. British American Tobacco's dividend payout ratio is 60.57%.

Analyst Upgrades and Downgrades

BTI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Bank of America started coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. Jefferies Financial Group started coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Barclays reissued an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

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.

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