GQG Partners LLC Buys 3,590,916 Shares of 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 raised its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 59.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,598,465 shares of the company's stock after buying an additional 3,590,916 shares during the quarter. GQG Partners LLC owned about 0.46% of British American Tobacco worth $397,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital International Investors lifted its position in shares of British American Tobacco by 17.1% in the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock worth $1,411,179,000 after purchasing an additional 5,673,619 shares in the last quarter. Bridgewater Associates LP increased its holdings in British American Tobacco by 261.7% during the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock worth $97,388,000 after buying an additional 1,940,035 shares during the last quarter. Northern Trust Corp raised its position in British American Tobacco by 33.6% during the fourth quarter. Northern Trust Corp now owns 2,438,016 shares of the company's stock worth $88,549,000 after acquiring an additional 612,907 shares in the last quarter. GAMMA Investing LLC raised its position in British American Tobacco by 5,144.6% during the first quarter. GAMMA Investing LLC now owns 276,393 shares of the company's stock worth $11,434,000 after acquiring an additional 271,123 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in British American Tobacco by 39.6% during the fourth quarter. Two Sigma Advisers LP now owns 877,000 shares of the company's stock worth $31,853,000 after acquiring an additional 248,700 shares in the last quarter. Institutional investors own 16.16% of the company's stock.

Analyst Ratings Changes

BTI has been the topic of several analyst reports. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. Morgan Stanley reissued an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a research report on Friday. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Bank of America assumed coverage on shares of British American Tobacco in a research report on Wednesday, April 30th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

British American Tobacco Stock Performance

Shares of BTI stock traded down $0.28 on Friday, hitting $57.14. The company's stock had a trading volume of 4,005,394 shares, compared to its average volume of 5,269,625. 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's 50 day moving average is $51.36 and its 200-day moving average is $45.05. British American Tobacco p.l.c. has a fifty-two week low of $34.17 and a fifty-two week high of $58.46. The company has a market capitalization of $117.69 billion, a PE ratio of 11.73, a PEG ratio of 2.24 and a beta of 0.38.

British American Tobacco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were paid a dividend of $0.7391 per share. This represents a yield of 599.0%. The ex-dividend date was Friday, June 27th. British American Tobacco's dividend payout ratio is presently 64.68%.

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.