Journey Strategic Wealth LLC Purchases Shares of 5,063 British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Journey Strategic Wealth LLC acquired 5,063 shares of British American Tobacco p.l.c., valued at approximately $209,000, during the first quarter.
• British American Tobacco recently cut its dividend, with the payout on August 6th set at $0.7391 per share, reflecting a 5.99% yield.
• Analysts have varying opinions on BTI stock, with ratings from "buy" to "hold", and an average target price of $33.00 according to MarketBeat.

Journey Strategic Wealth LLC bought a new position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,063 shares of the company's stock, valued at approximately $209,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital International Investors lifted its position in British American Tobacco by 17.1% during the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock valued at $1,411,179,000 after acquiring an additional 5,673,619 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of British American Tobacco by 0.3% in the fourth quarter. Capital Research Global Investors now owns 15,594,361 shares of the company's stock worth $566,381,000 after buying an additional 47,439 shares during the last quarter. FMR LLC raised its holdings in shares of British American Tobacco by 44.0% in the fourth quarter. FMR LLC now owns 10,232,402 shares of the company's stock worth $371,641,000 after buying an additional 3,127,046 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of British American Tobacco by 24.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company's stock worth $221,343,000 after acquiring an additional 1,196,020 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of British American Tobacco by 261.7% in the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company's stock worth $97,388,000 after acquiring an additional 1,940,035 shares during the period. 16.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

British American Tobacco Price Performance

Shares of NYSE:BTI traded up $0.22 during midday trading on Wednesday, hitting $52.99. The company's stock had a trading volume of 2,646,830 shares, compared to its average volume of 5,791,390. The business's 50 day simple moving average is $48.60 and its 200 day simple moving average is $43.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.52 and a current ratio of 0.76. The company has a market cap of $109.30 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 4.79 and a beta of 0.33. British American Tobacco p.l.c. has a 12-month low of $34.12 and a 12-month high of $53.02.

British American Tobacco Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be paid 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 dividend payout ratio (DPR) is presently 60.78%.

British American Tobacco 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.