Manning & Napier Advisors LLC lowered its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,168 shares of the company's stock after selling 5,283 shares during the quarter. Manning & Napier Advisors LLC's holdings in British American Tobacco were worth $7,743,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. SRS Capital Advisors Inc. increased its holdings in British American Tobacco by 294.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 703 shares of the company's stock worth $26,000 after purchasing an additional 525 shares during the period. Ameriflex Group Inc. acquired a new position in shares of British American Tobacco during the fourth quarter worth about $26,000. Financial Management Professionals Inc. increased its stake in shares of British American Tobacco by 78.5% during the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock worth $26,000 after buying an additional 278 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in British American Tobacco in the fourth quarter valued at approximately $27,000. Finally, CX Institutional purchased a new position in British American Tobacco in the first quarter worth approximately $34,000. 16.16% of the stock is currently owned by institutional investors and hedge funds.
British American Tobacco Stock Up 0.7%
BTI traded up $0.34 on Thursday, reaching $48.10. The company's stock had a trading volume of 5,149,352 shares, compared to its average volume of 5,151,290. The company has a market capitalization of $99.31 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 4.01 and a beta of 0.31. British American Tobacco p.l.c. has a fifty-two week low of $30.81 and a fifty-two week 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 has a 50 day moving average of $45.10 and a two-hundred day moving average of $41.13.
British American Tobacco Cuts Dividend
The business also recently announced a dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th will be issued a $0.7391 dividend. This represents a dividend yield of 5.99%. The ex-dividend date is Friday, June 27th. British American Tobacco's payout ratio is 65.09%.
Wall Street Analyst Weigh In
BTI has been the topic of a number of analyst reports. Bank of America assumed coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They issued a "buy" rating on the stock. Barclays reissued an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.
Check Out Our Latest Report on British American Tobacco
British American Tobacco Company Profile
(
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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