Manning & Napier Advisors LLC Sells 5,283 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Manning & Napier Advisors LLC trimmed its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,168 shares of the company's stock after selling 5,283 shares during the period. Manning & Napier Advisors LLC's holdings in British American Tobacco were worth $7,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BTI. SRS Capital Advisors Inc. increased its position in shares of British American Tobacco by 294.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 703 shares of the company's stock valued at $26,000 after purchasing an additional 525 shares during the period. Ameriflex Group Inc. bought a new stake in British American Tobacco in the 4th quarter valued at $26,000. Financial Management Professionals Inc. increased its holdings in British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after buying an additional 278 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in British American Tobacco in the 4th quarter valued at $27,000. Finally, CX Institutional bought a new stake in British American Tobacco in the first quarter valued at about $34,000. 16.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BTI shares. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Bank of America assumed coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

British American Tobacco Stock Down 1.0%

BTI opened at $48.85 on Monday. 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 firm has a market cap of $100.88 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 4.11 and a beta of 0.31. British American Tobacco p.l.c. has a twelve month low of $30.81 and a twelve month high of $49.58. The firm's 50-day simple moving average is $44.61 and its 200-day simple moving average is $40.88.

British American Tobacco Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a yield of 5.99%. British American Tobacco's dividend payout ratio is 65.09%.

British American Tobacco Company 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.

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