Modern Wealth Management LLC Takes Position in British American Tobacco p.l.c. $BTI

Key Points

• Modern Wealth Management LLC established a new position of 278,285 shares in British American Tobacco during Q3, valued at about $14.77 million.
• Analysts give BTI an average rating of Moderate Buy (eight Buy, two Sell) with a consensus target price of $51.00.
• British American Tobacco declared a quarterly dividend of $0.8349 per share (annualized $3.34), implying a yield of 5.8%, payable Feb 8 with an ex‑dividend/record date of Dec 29.

Modern Wealth Management LLC bought a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 278,285 shares of the company's stock, valued at approximately $14,771,000.

Several other large investors also recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in British American Tobacco in the 3rd quarter valued at $29,000. Cary Street Partners Financial LLC acquired a new position in British American Tobacco during the second quarter worth $30,000. Salem Investment Counselors Inc. lifted its holdings in shares of British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company's stock valued at $34,000 after acquiring an additional 207 shares during the period. Westside Investment Management Inc. boosted its stake in shares of British American Tobacco by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 782 shares of the company's stock valued at $41,000 after purchasing an additional 391 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of British American Tobacco in the 3rd quarter valued at $42,000. 16.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on BTI shares. Wall Street Zen upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of British American Tobacco in a research note on Friday, November 28th. Morgan Stanley reissued an "underweight" rating on shares of British American Tobacco in a report on Wednesday, December 10th. Citigroup restated a "buy" rating on shares of British American Tobacco in a research report on Friday, November 28th. Finally, Kepler Capital Markets assumed coverage on British American Tobacco in a research report on Friday, December 12th. They issued a "buy" rating for the company. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, British American Tobacco presently has an average rating of "Moderate Buy" and a consensus target price of $51.00.

British American Tobacco Stock Performance

Shares of BTI opened at $57.81 on Friday. The stock's fifty day simple moving average is $59.10 and its 200-day simple moving average is $56.39. British American Tobacco p.l.c. has a 12-month low of $37.96 and a 12-month high of $63.22. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

British American Tobacco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 5.8%. 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.

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