Park Avenue Securities LLC Acquires 22,654 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Park Avenue Securities LLC increased its holdings in British American Tobacco p.l.c. by 66.9% in the second quarter, owning a total of 56,520 shares valued at approximately $2.68 million.
• Several institutional investors have also adjusted their positions, with a combined 16.16% of the stock currently owned by these investors.
• Despite these institutional investments, British American Tobacco's stock is down 1.4% and has an average price target of $51.00 based on recent analyst evaluations.

Park Avenue Securities LLC raised its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 66.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,520 shares of the company's stock after purchasing an additional 22,654 shares during the quarter. Park Avenue Securities LLC's holdings in British American Tobacco were worth $2,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of British American Tobacco by 1.7% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 27,197 shares of the company's stock valued at $1,287,000 after acquiring an additional 457 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of British American Tobacco by 42.1% during the second quarter. Farther Finance Advisors LLC now owns 5,822 shares of the company's stock worth $276,000 after purchasing an additional 1,724 shares during the period. Silver Oak Securities Incorporated lifted its holdings in British American Tobacco by 3.4% in the second quarter. Silver Oak Securities Incorporated now owns 11,520 shares of the company's stock valued at $545,000 after acquiring an additional 377 shares during the period. UMB Bank n.a. lifted its holdings in British American Tobacco by 36.4% in the second quarter. UMB Bank n.a. now owns 1,371 shares of the company's stock valued at $65,000 after acquiring an additional 366 shares during the period. Finally, Butensky & Cohen Financial Security Inc. acquired a new position in British American Tobacco in the second quarter valued at approximately $5,695,000. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Stock Down 1.4%

British American Tobacco stock opened at $53.13 on Wednesday. The stock's 50 day moving average price is $55.50 and its 200 day moving average price is $48.17. 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 company has a market cap of $109.32 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 3.70 and a beta of 0.40. British American Tobacco p.l.c. has a 1-year low of $34.17 and a 1-year high of $59.29.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on British American Tobacco in a research note on Wednesday, July 9th. They set a "buy" rating for the company. Morgan Stanley reaffirmed an "underweight" rating and issued a $40.00 price target on shares of British American Tobacco in a research note on Friday, August 15th. Argus raised British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 target price on the stock in a research note on Monday, September 8th. Royal Bank Of Canada lowered British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, September 2nd. Finally, Barclays reiterated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $51.00.

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.

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