Park Place Capital Corp Raises Stock Holdings in British American Tobacco p.l.c. $BTI

Key Points

• Park Place Capital Corp dramatically increased its stake in British American Tobacco p.l.c. by 12,756.9% during the second quarter, acquiring a total of 8,357 shares{/strong} valued at approximately $390,000.
• Multiple institutional investors, including Orbis Allan Gray Ltd and GQG Partners LLC, have also significantly boosted their holdings in British American Tobacco, reflecting growing interest in the company's stock.
• The stock has an average analyst rating of "Hold" with a consensus price target of $51.00, following various rating upgrades and downgrades from different equity research firms.

Park Place Capital Corp grew its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 12,756.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,357 shares of the company's stock after buying an additional 8,292 shares during the quarter. Park Place Capital Corp's holdings in British American Tobacco were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Orbis Allan Gray Ltd boosted its stake in shares of British American Tobacco by 20.4% in the first quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company's stock worth $497,318,000 after acquiring an additional 2,040,011 shares during the period. GQG Partners LLC lifted its stake in shares of British American Tobacco by 59.8% in the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock valued at $397,089,000 after purchasing an additional 3,590,916 shares during the last quarter. Newport Trust Company LLC lifted its stake in shares of British American Tobacco by 1.1% in the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company's stock valued at $114,779,000 after purchasing an additional 31,205 shares during the last quarter. Northern Trust Corp lifted its stake in shares of British American Tobacco by 1.5% in the 1st quarter. Northern Trust Corp now owns 2,473,942 shares of the company's stock valued at $102,347,000 after purchasing an additional 35,926 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of British American Tobacco by 3.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock valued at $59,866,000 after purchasing an additional 42,531 shares during the last quarter. Institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating on the stock. Barclays restated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Argus upgraded British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective on the stock in a report on Monday, September 8th. Royal Bank Of Canada cut British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, British American Tobacco has an average rating of "Hold" and a consensus price target of $51.00.

British American Tobacco Price Performance

Shares of British American Tobacco stock opened at $53.05 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a twelve month low of $34.17 and a twelve month high of $59.29. The business has a 50-day moving average price of $55.58 and a 200 day moving average price of $48.57. The firm has a market cap of $109.15 billion, a PE ratio of 10.89, a P/E/G ratio of 3.63 and a beta of 0.40.

About British American Tobacco

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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