PNC Financial Services Group Inc. Has $7.53 Million Stock Position in British American Tobacco p.l.c. $BTI

Key Points

• PNC Financial Services increased its British American Tobacco stake by 26.3% in the first quarter, owning 128,792 shares valued at approximately $7.53 million.
• Several major institutions also expanded their BTI positions, including Orbis Allan Gray, WCM Investment Management, Bank of America and Raymond James; institutional investors and hedge funds collectively own 16.16% of the stock.
• Analyst sentiment is generally positive, with seven Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $51.00. BTI recently traded at $60.89, within its $49.88–$67.30 one-year range.

PNC Financial Services Group Inc. increased its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 26.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,792 shares of the company's stock after acquiring an additional 26,824 shares during the period. PNC Financial Services Group Inc.'s holdings in British American Tobacco were worth $7,530,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BTI. Orbis Allan Gray Ltd increased its position in shares of British American Tobacco by 20.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company's stock worth $686,473,000 after purchasing an additional 2,482,737 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of British American Tobacco by 3,899.7% in the 1st quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company's stock valued at $137,658,000 after buying an additional 2,303,743 shares during the last quarter. Bank of America Corp DE grew its stake in shares of British American Tobacco by 29.5% in the third quarter. Bank of America Corp DE now owns 6,934,792 shares of the company's stock valued at $368,099,000 after buying an additional 1,578,860 shares in the last quarter. Raymond James Financial Inc. increased its holdings in British American Tobacco by 85.1% during the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company's stock worth $130,515,000 after buying an additional 1,267,425 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in British American Tobacco during the third quarter worth $47,852,000. 16.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on BTI shares. BTIG Research assumed coverage on shares of British American Tobacco in a research note on Tuesday, July 21st. They issued a "buy" rating for the company. Citigroup restated a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Weiss Ratings raised shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. Finally, Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.00.

British American Tobacco Trading Down 0.1%

BTI opened at $60.89 on Monday. The stock's fifty day simple moving average is $61.60 and its 200 day simple moving average is $60.01. British American Tobacco p.l.c. has a 1-year low of $49.88 and a 1-year high of $67.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

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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