Invesco Ltd. Sells 52,081 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Invesco Ltd. has reduced its stock holdings in British American Tobacco by 5.8%, leaving it with 851,220 shares worth approximately $35.2 million after selling 52,081 shares in the first quarter.
• Notable institutional investors, such as United Capital Financial Advisors and Tower Research Capital, have recently increased their stakes in British American Tobacco during the fourth quarter, indicating continued institutional interest in the stock.
• British American Tobacco's stock currently has an average rating of "Moderate Buy" with a consensus target price of $40.00, despite a recent downgrade from some analysts, including Wall Street Zen.

Invesco Ltd. trimmed its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 851,220 shares of the company's stock after selling 52,081 shares during the period. Invesco Ltd.'s holdings in British American Tobacco were worth $35,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlas Capital Advisors Inc. lifted its position in shares of British American Tobacco by 5,610.5% in the 1st quarter. Atlas Capital Advisors Inc. now owns 4,911 shares of the company's stock worth $203,000 after purchasing an additional 4,825 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of British American Tobacco in the 1st quarter worth about $32,000. Benjamin Edwards Inc. lifted its position in shares of British American Tobacco by 6.9% in the 1st quarter. Benjamin Edwards Inc. now owns 15,495 shares of the company's stock worth $641,000 after purchasing an additional 995 shares during the period. Townsquare Capital LLC lifted its position in shares of British American Tobacco by 33.9% in the 1st quarter. Townsquare Capital LLC now owns 43,257 shares of the company's stock worth $1,790,000 after purchasing an additional 10,943 shares during the period. Finally, CenterBook Partners LP lifted its position in British American Tobacco by 135.3% during the 1st quarter. CenterBook Partners LP now owns 61,514 shares of the company's stock valued at $2,545,000 after acquiring an additional 35,370 shares during the period. 16.16% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Stock Down 1.3%

British American Tobacco stock traded down $0.7950 during trading hours on Friday, hitting $58.4750. The stock had a trading volume of 4,833,464 shares, compared to its average volume of 4,988,913. 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 stock has a market capitalization of $120.44 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.35 and a beta of 0.38. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $59.29. The stock's 50-day moving average price is $52.37 and its 200-day moving average price is $45.69.

British American Tobacco Cuts Dividend

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

Analyst Ratings Changes

BTI has been the subject of a number of recent research reports. 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 set a $40.00 price target on shares of British American Tobacco in a research report on Friday, August 15th. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Bank of America initiated coverage on shares of British American Tobacco in a research report on Wednesday, April 30th. They set a "buy" rating for the company. Finally, Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, British American Tobacco has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.