Orion Porfolio Solutions LLC Boosts Stake in British American Tobacco p.l.c. $BTI

Key Points

• Orion Portfolio Solutions LLC boosted its stake in British American Tobacco by 53.2%, adding 49,240 shares to hold 141,815 shares valued at about $7.53 million per its most recent 13F filing.
• British American Tobacco declared a quarterly dividend of $0.8349 per share (annualized $3.34), a 5.8% yield; shareholders of record on December 29 will be paid on February 8 (ex-dividend date December 29).
• Analyst consensus is a "Moderate Buy" with eight Buy and two Sell ratings and an average target price of $51.00.

Orion Porfolio Solutions LLC increased its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 53.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,815 shares of the company's stock after buying an additional 49,240 shares during the quarter. Orion Porfolio Solutions LLC's holdings in British American Tobacco were worth $7,528,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of British American Tobacco by 2,066.9% in the second quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company's stock valued at $164,519,000 after purchasing an additional 3,315,589 shares during the period. Orbis Allan Gray Ltd boosted its position in British American Tobacco by 20.7% in the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock valued at $686,473,000 after buying an additional 2,482,737 shares during the last quarter. Citigroup Inc. boosted its position in British American Tobacco by 833.5% in the second quarter. Citigroup Inc. now owns 2,121,918 shares of the company's stock valued at $100,430,000 after buying an additional 1,894,617 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in British American Tobacco by 201.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,748,324 shares of the company's stock worth $130,078,000 after buying an additional 1,837,106 shares during the period. Finally, Bank of America Corp DE raised its position in British American Tobacco by 35.1% during the 2nd quarter. Bank of America Corp DE now owns 5,355,932 shares of the company's stock worth $253,496,000 after buying an additional 1,392,799 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Stock Down 1.3%

BTI opened at $57.81 on Friday. The firm's fifty day simple moving average is $59.10 and its two-hundred day simple moving average is $56.39. British American Tobacco p.l.c. has a 52-week low of $37.96 and a 52-week 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. This represents a $3.34 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, December 29th.

Analyst Ratings Changes

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

British American Tobacco Company 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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