QRG Capital Management Inc. Purchases 22,587 Shares of British American Tobacco p.l.c. $BTI

Key Points

• QRG Capital Management increased its British American Tobacco stake by 11.2% in the second quarter, purchasing 22,587 additional shares and bringing its holdings to 224,848 shares valued at approximately $13.9 million.
• British American Tobacco shares opened at $55.76, within a 52-week range of $49.88 to $67.30. The company reported quarterly earnings of $1.11 per share and revenue of $8.10 billion, both below analyst expectations.
• Analyst sentiment remains generally positive, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $68.10.

QRG Capital Management Inc. lifted its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,848 shares of the company's stock after acquiring an additional 22,587 shares during the quarter. QRG Capital Management Inc.'s holdings in British American Tobacco were worth $13,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BTI. First Command Advisory Services Inc. raised its holdings in shares of British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock valued at $25,000 after purchasing an additional 416 shares in the last quarter. Glen Eagle Advisors LLC bought a new stake in British American Tobacco during the 4th quarter valued at $26,000. SHP Wealth Management purchased a new position in shares of British American Tobacco in the 4th quarter valued at $35,000. Community Bank N.A. bought a new position in shares of British American Tobacco in the 2nd quarter worth $55,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of British American Tobacco during the 4th quarter worth $57,000. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Trading Up 0.0%

Shares of BTI stock opened at $55.76 on Thursday. British American Tobacco p.l.c. has a 52-week low of $49.88 and a 52-week high of $67.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. The business has a 50-day simple moving average of $57.76 and a 200-day simple moving average of $59.29.

British American Tobacco (NYSE:BTI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($1.10). The company had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $16.42 billion. Research analysts predict that British American Tobacco p.l.c. will post 4.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BTI. Morgan Stanley restated an "overweight" rating and issued a $68.10 price target on shares of British American Tobacco in a report on Monday, September 7th. Royal Bank Of Canada restated an "underperform" rating on shares of British American Tobacco in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of British American Tobacco in a research report on Monday, August 31st. BTIG Research initiated coverage on British American Tobacco in a research note on Tuesday, July 21st. They set a "buy" rating on the stock. Finally, Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, British American Tobacco currently has an average rating of "Moderate Buy" and an average target price of $68.10.

British American Tobacco Profile

British American Tobacco p.l.c. is a multinational consumer products company focused primarily on tobacco and nicotine products. Its portfolio includes combustible cigarettes, roll-your-own tobacco, cigars and heated tobacco products, as well as newer categories such as vapor products and modern oral nicotine products.

The company markets a range of internationally recognized brands, including Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Newport. Through its U.S. business, Reynolds American, BAT also owns or markets brands such as Camel and Natural American Spirit.

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