Legacy Capital Group California Inc. Takes $230,000 Position in British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Legacy Capital Group California Inc. has made a new investment in British American Tobacco p.l.c. by acquiring 5,558 shares valued at approximately $230,000 in the first quarter.
• Several institutional investors have significantly increased their stakes in British American Tobacco, with Bank of Montreal Can boosting its stake by 2,565.4%, now owning over 2 million shares.
• British American Tobacco's stock has a consensus rating of "Moderate Buy" with a target price of $33.00, despite a recent downgrade from Wall Street Zen from "buy" to "hold."

Legacy Capital Group California Inc. acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,558 shares of the company's stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Atria Wealth Solutions Inc. boosted its stake in shares of British American Tobacco by 28.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock valued at $1,074,000 after buying an additional 5,745 shares during the last quarter. Plan Group Financial LLC purchased a new position in shares of British American Tobacco during the 1st quarter valued at approximately $1,510,000. Allianz SE purchased a new position in shares of British American Tobacco during the 1st quarter valued at approximately $194,000. Scotia Capital Inc. boosted its stake in shares of British American Tobacco by 33.0% during the 1st quarter. Scotia Capital Inc. now owns 51,411 shares of the company's stock valued at $2,127,000 after buying an additional 12,758 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of British American Tobacco by 7.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 45,662 shares of the company's stock valued at $1,889,000 after buying an additional 3,074 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

BTI stock traded up $0.78 during mid-day trading on Monday, reaching $58.02. The company had a trading volume of 1,834,689 shares, compared to its average volume of 5,793,254. 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 $119.50 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.25 and a beta of 0.38. British American Tobacco p.l.c. has a one year low of $34.17 and a one year high of $57.96. The stock's 50-day simple moving average is $50.26 and its two-hundred day simple moving average is $44.45.

British American Tobacco Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BTI shares. Wall Street Zen cut 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 British American Tobacco in a research note on Wednesday, April 30th. They set a "buy" rating on the stock. Barclays restated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Finally, Jefferies Financial Group started coverage on British American Tobacco in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.00.

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.