Oppenheimer Asset Management Inc. Purchases 24,962 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Oppenheimer Asset Management Inc. boosted its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 233,271 shares of the company's stock after acquiring an additional 24,962 shares during the period. Oppenheimer Asset Management Inc.'s holdings in British American Tobacco were worth $9,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of British American Tobacco by 17.1% in the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company's stock worth $1,411,179,000 after purchasing an additional 5,673,619 shares during the last quarter. Capital Research Global Investors raised its stake in shares of British American Tobacco by 0.3% in the fourth quarter. Capital Research Global Investors now owns 15,594,361 shares of the company's stock worth $566,381,000 after purchasing an additional 47,439 shares during the last quarter. FMR LLC raised its stake in shares of British American Tobacco by 44.0% in the fourth quarter. FMR LLC now owns 10,232,402 shares of the company's stock worth $371,641,000 after purchasing an additional 3,127,046 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of British American Tobacco by 24.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company's stock worth $221,343,000 after purchasing an additional 1,196,020 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of British American Tobacco by 4.8% in the fourth quarter. Natixis Advisors LLC now owns 3,010,687 shares of the company's stock worth $109,348,000 after purchasing an additional 137,231 shares during the last quarter. Institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of BTI opened at $48.80 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $100.77 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 4.11 and a beta of 0.31. The stock has a 50 day moving average of $44.74 and a 200 day moving average of $40.96. British American Tobacco p.l.c. has a 12 month low of $30.81 and a 12 month high of $49.58.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, June 30th will be given a dividend of $0.7391 per share. This represents a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, June 27th. British American Tobacco's payout ratio is 65.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BTI. Bank of America began coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating for the company. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.00.

British American Tobacco Company 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.

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