Janney Montgomery Scott LLC lowered its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 10.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,388 shares of the company's stock after selling 7,939 shares during the quarter. Janney Montgomery Scott LLC's holdings in British American Tobacco were worth $2,705,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BTI. D Orazio & Associates Inc. raised its stake in British American Tobacco by 18.5% during the 1st quarter. D Orazio & Associates Inc. now owns 15,074 shares of the company's stock valued at $624,000 after acquiring an additional 2,353 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of British American Tobacco by 26.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 111,922 shares of the company's stock valued at $4,630,000 after purchasing an additional 23,359 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in British American Tobacco by 1.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock worth $691,000 after purchasing an additional 258 shares during the period. Fifth Third Bancorp grew its position in British American Tobacco by 29.4% in the 1st quarter. Fifth Third Bancorp now owns 14,253 shares of the company's stock valued at $590,000 after buying an additional 3,241 shares in the last quarter. Finally, CX Institutional acquired a new position in British American Tobacco during the 1st quarter valued at about $34,000. Institutional investors own 16.16% of the company's stock.
British American Tobacco Price Performance
British American Tobacco stock traded up $0.34 during midday trading on Thursday, hitting $48.10. The company's stock had a trading volume of 5,148,851 shares, compared to its average volume of 5,754,276. British American Tobacco p.l.c. has a 12 month low of $30.81 and a 12 month high of $49.58. The company has a quick ratio of 0.52, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average price is $44.99 and its 200-day moving average price is $41.06. The company has a market capitalization of $99.31 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 4.07 and a beta of 0.31.
British American Tobacco Cuts Dividend
The firm also recently announced a dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, June 30th will be issued a dividend of $0.7391 per share. This represents a yield of 5.99%. The ex-dividend date of this dividend is Friday, June 27th. British American Tobacco's payout ratio is 65.09%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Bank of America initiated coverage on British American Tobacco in a research report on Wednesday, April 30th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.00.
View Our Latest Research Report on British American Tobacco
British American Tobacco Profile
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Free Report)
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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