British American Tobacco p.l.c. $BTI Shares Bought by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC increased its stake in British American Tobacco p.l.c. by 1.1% during the first quarter, now holding 2,774,460 shares valued at approximately $114.78 million.
• Analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and a target price of $40.00, while Wall Street Zen downgraded it from "buy" to "hold".
• British American Tobacco recently cut its dividend to a yield of 599.0%, reflecting a payout ratio of 60.57%.

Newport Trust Company LLC grew its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,774,460 shares of the company's stock after purchasing an additional 31,205 shares during the quarter. Newport Trust Company LLC owned approximately 0.13% of British American Tobacco worth $114,779,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Lockheed Martin Investment Management Co. lifted its position in shares of British American Tobacco by 27.7% during the 1st quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company's stock worth $5,833,000 after buying an additional 30,600 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of British American Tobacco by 21.8% in the 4th quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock valued at $2,979,000 after acquiring an additional 14,655 shares during the period. Consolidated Portfolio Review Corp acquired a new position in shares of British American Tobacco in the 1st quarter valued at $375,000. Atria Wealth Solutions Inc. increased its holdings in shares of British American Tobacco by 28.8% in the 1st quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock valued at $1,074,000 after acquiring an additional 5,745 shares during the period. Finally, Todd Asset Management LLC increased its holdings in shares of British American Tobacco by 26.9% in the 1st quarter. Todd Asset Management LLC now owns 741,893 shares of the company's stock valued at $30,692,000 after acquiring an additional 157,251 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

Analysts Set New Price Targets

BTI has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating on the stock. 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 research note on Friday, June 13th. Morgan Stanley reissued an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Finally, Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.00.

British American Tobacco Price Performance

Shares of NYSE BTI traded down $0.73 during trading on Monday, hitting $57.78. 4,353,968 shares of the company were exchanged, compared to its average volume of 5,713,311. British American Tobacco p.l.c. has a 1 year low of $34.17 and a 1 year high of $59.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The firm's fifty day moving average price is $52.37 and its 200 day moving average price is $45.72. The company has a market cap of $119.01 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.35 and a beta of 0.38.

British American Tobacco Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, June 30th were given a $0.7391 dividend. The ex-dividend date was Friday, June 27th. This represents a dividend yield of 599.0%. British American Tobacco's payout ratio is currently 60.57%.

British American Tobacco Profile

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.