Manning & Napier Advisors LLC Trims Stake in British American Tobacco p.l.c. $BTI

Key Points

• Manning & Napier Advisors LLC trimmed its British American Tobacco stake by 9.8% in the fourth quarter, selling 17,554 shares and leaving it with 161,234 shares valued at about $9.13 million.
• Analyst sentiment remains mixed but positive overall: the stock has a Moderate Buy rating with an average target price of $51.00, though one firm recently downgraded BTI to hold.
• British American Tobacco announced a quarterly dividend of $0.8349 per share, equal to an annualized payout of $3.34 and a yield of about 5.7%.

Manning & Napier Advisors LLC reduced its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 161,234 shares of the company's stock after selling 17,554 shares during the period. Manning & Napier Advisors LLC's holdings in British American Tobacco were worth $9,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sage Rhino Capital LLC raised its position in British American Tobacco by 3.2% in the 4th quarter. Sage Rhino Capital LLC now owns 7,161 shares of the company's stock valued at $405,000 after purchasing an additional 219 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in British American Tobacco by 2.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 11,524 shares of the company's stock valued at $612,000 after purchasing an additional 222 shares during the last quarter. Ariadne Wealth Management LP raised its position in British American Tobacco by 3.6% in the 3rd quarter. Ariadne Wealth Management LP now owns 6,530 shares of the company's stock valued at $356,000 after purchasing an additional 225 shares during the last quarter. Mutual Advisors LLC raised its position in British American Tobacco by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 11,983 shares of the company's stock valued at $678,000 after purchasing an additional 240 shares during the last quarter. Finally, MBA Advisors LLC raised its position in British American Tobacco by 4.0% in the 3rd quarter. MBA Advisors LLC now owns 6,319 shares of the company's stock valued at $335,000 after purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on BTI. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a research note on Sunday, April 5th. Weiss Ratings raised British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Stock Performance

Shares of BTI opened at $58.28 on Friday. The company has a 50-day simple moving average of $58.70 and a 200-day simple moving average of $57.53. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 52-week low of $40.12 and a 52-week high of $63.22.

British American Tobacco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be paid a $0.8349 dividend. This represents a $3.34 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, December 29th.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.