NewEdge Advisors LLC Has $5.40 Million Position in British American Tobacco p.l.c. $BTI

Key Points

• NewEdge Advisors increased its BTI stake by 33.3% in the first quarter, owning 92,337 shares valued at approximately $5.40 million.
• Other major institutions, including Bank of America and Orbis Allan Gray, also increased their holdings; institutional investors collectively own 16.16% of British American Tobacco.
• Analyst sentiment remains generally positive, with seven Buy ratings and one Sell rating and a consensus price target of $51.00, while BTI recently traded at $56.84, down 0.4%.

NewEdge Advisors LLC raised its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 33.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,337 shares of the company's stock after acquiring an additional 23,086 shares during the quarter. NewEdge Advisors LLC's holdings in British American Tobacco were worth $5,399,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BTI. Capital International Investors lifted its holdings in British American Tobacco by 0.5% during the 4th quarter. Capital International Investors now owns 64,389,481 shares of the company's stock valued at $3,645,500,000 after purchasing an additional 332,062 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of British American Tobacco by 1.2% during the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company's stock worth $1,264,512,000 after buying an additional 264,511 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock worth $686,473,000 after acquiring an additional 2,482,737 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of British American Tobacco by 34.4% in the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company's stock worth $569,313,000 after acquiring an additional 2,494,576 shares in the last quarter. Finally, Capital World Investors grew its position in British American Tobacco by 0.5% during the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company's stock worth $538,935,000 after acquiring an additional 47,858 shares during the last quarter. Institutional investors own 16.16% of the company's stock.

Analysts Set New Price Targets

BTI has been the subject of several research analyst reports. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday. Royal Bank Of Canada restated an "underperform" rating on shares of British American Tobacco in a report on Tuesday. Morgan Stanley restated an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. Weiss Ratings upgraded shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Finally, Citigroup reissued a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.00.

British American Tobacco Trading Down 0.4%

NYSE:BTI opened at $56.84 on Wednesday. The stock's fifty day moving average price is $60.58 and its two-hundred day moving average price is $60.32. British American Tobacco p.l.c. has a 52-week low of $49.88 and a 52-week high of $67.30. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.

British American Tobacco Profile

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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