Massachusetts Financial Services Co. MA raised its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 23.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,505 shares of the company's stock after buying an additional 31,920 shares during the period. Massachusetts Financial Services Co. MA's holdings in British American Tobacco were worth $6,971,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of British American Tobacco by 20.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,363 shares of the company's stock valued at $5,788,000 after purchasing an additional 27,492 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of British American Tobacco by 17.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,127 shares of the company's stock valued at $114,000 after purchasing an additional 464 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of British American Tobacco by 17.0% in the 4th quarter. Harbour Investments Inc. now owns 2,095 shares of the company's stock valued at $76,000 after purchasing an additional 305 shares in the last quarter. Whittier Trust Co. raised its stake in shares of British American Tobacco by 53.9% in the 4th quarter. Whittier Trust Co. now owns 24,720 shares of the company's stock valued at $898,000 after purchasing an additional 8,657 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of British American Tobacco by 67.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 6,930 shares of the company's stock valued at $252,000 after purchasing an additional 2,799 shares in the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.
British American Tobacco Trading Up 0.5%
Shares of NYSE:BTI opened at $51.61 on Friday. The stock has a market capitalization of $106.46 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 4.75 and a beta of 0.33. British American Tobacco p.l.c. has a 1-year low of $33.18 and a 1-year high of $52.38. 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 50 day moving average price of $47.17 and a 200 day moving average price of $42.56.
British American Tobacco Cuts Dividend
The company also recently declared a dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, June 30th will be given a $0.7391 dividend. The ex-dividend date is Friday, June 27th. This represents a dividend yield of 5.99%. British American Tobacco's dividend payout ratio (DPR) is presently 60.78%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of 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 report on Friday, June 13th. Wall Street Zen upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Jefferies Financial Group started coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.00.
Read Our Latest Analysis 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.
Further Reading
Want to see what other hedge funds are holding BTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for British American Tobacco p.l.c. (NYSE:BTI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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